Sustainable Aviation Fuel Credit
Credit of $1.25-$1.75 per gallon for sustainable aviation fuel with at least 50% emissions reduction.
Estimate Your Savings
This is a simplified estimate. Actual savings depend on your complete tax situation.
Eligibility
Producers of sustainable aviation fuel
Requirements
- 1Must achieve 50% lifecycle GHG reduction
- 2$1.25 to $1.75 per gallon
- 3Qualified mixture use
Required Tax Forms
Understanding the Sustainable Aviation Fuel Credit
Credit of $1.25-$1.75 per gallon for sustainable aviation fuel with at least 50% emissions reduction.
Tax credits directly reduce the amount of tax you owe, making them more valuable than deductions which only reduce taxable income. On average, taxpayers save approximately $5,000 with this credit.
To claim this credit, you will need to file Form pending with your annual tax return. Make sure you meet all eligibility requirements and keep documentation of qualifying expenses or activities.
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Frequently Asked Questions
What is the Sustainable Aviation Fuel Credit?
Credit of $1.25-$1.75 per gallon for sustainable aviation fuel with at least 50% emissions reduction.
How much is the Sustainable Aviation Fuel Credit worth?
The average savings from the Sustainable Aviation Fuel Credit is approximately $5,000 per year, depending on your specific situation.
Who is eligible for the Sustainable Aviation Fuel Credit?
Producers of sustainable aviation fuel. Key requirements include: Must achieve 50% lifecycle GHG reduction; $1.25 to $1.75 per gallon; Qualified mixture use.
What forms do I need to claim the Sustainable Aviation Fuel Credit?
You will need to file Form pending with your tax return to claim this credit.
Is the Sustainable Aviation Fuel Credit refundable?
Most business and energy tax credits are nonrefundable but can be carried forward to future tax years.
Can I claim the Sustainable Aviation Fuel Credit with other tax credits?
Yes, in most cases you can claim the Sustainable Aviation Fuel Credit along with other eligible tax credits. However, some credits have interactions that may reduce the benefit. Consult a tax professional for your specific situation.