CCCv2 upgrade for Lucid Air using points discussion

[rrreese]

Hopefully they add it soon. They haven't even removed an expired experience on the store. It should be about 7,000 points considering the wall charger is 8,900 which costs $1200.

 

[skomarla]

I think this amount triggers a 1099 MISC so taxes will be due on that amount. So think about it accordingly.

I for one would be willing to pay a higher point amount. Bottom line is that it wouldn’t be “free”. Entirely would depend on your tax situation.

 

[borski]

I think this amount triggers a 1099 MISC so taxes will be due on that amount. So think about it accordingly.

I for one would be willing to pay a higher point amount. Bottom line is that it wouldn’t be “free”. Entirely would depend on your tax situation.

The minimum is $2000 as of 2026 (used to be $600 before), so that is unlikely to apply unless you get other things from the points store too.

 

[yash3030]

Math wise i am not sure why is this even a debate. A hypothetical calculation below:
Assuming it is max of 10000 points in the store.
Equivalent $ for 1099 MISC - 0.125*10000 -> $1250 (this is Lucid's conversion ratio)
Anyone in 30% tax bracket would pay - 30% of $1250 as tax (out of pocket) - $375, which is definitely less than $950 out of pocket.

Am i missing something here?

 

[skomarla]

The minimum is $2000 as of 2026 (used to be $600 before), so that is unlikely to apply unless you get other things from the points store too.

Good to know!

 

[skomarla]

Math wise i am not sure why is this even a debate. A hypothetical calculation below:
Assuming it is max of 10000 points in the store.
Equivalent $ for 1099 MISC - 0.125*10000 -> $1250 (this is Lucid's conversion ratio)
Anyone in 30% tax bracket would pay - 30% of $1250 as tax (out of pocket) - $375, which is definitely less than $950 out of pocket.

Am i missing something here?

No. Just saying it might not be free. But $2000 changes the situation .

 

[borski]

Math wise i am not sure why is this even a debate. A hypothetical calculation below:
Assuming it is max of 10000 points in the store.
Equivalent $ for 1099 MISC - 0.125*10000 -> $1250 (this is Lucid's conversion ratio)
Anyone in 30% tax bracket would pay - 30% of $1250 as tax (out of pocket) - $375, which is definitely less than $950 out of pocket.

Am i missing something here?

Your calculations are fine but unnecessary, as it is below the $2000 de minimis threshold.

 

[yash3030]

No. Just saying it might not be free. But $2000 changes the situation .

Thanks!

Your calculations are fine but unnecessary, as it is below the $2000 de minimis threshold.

Yeah this year! Last year "if" this was available on the store, with other merch i had ordered, the calculation would have been very much applicable.

 

[borski]

Yeah this year! Last year "if" this was available on the store, with other merch i had ordered, the calculation would have been very much applicable.

Yup.

Although, since one of my favorite classes in college was The Art of Approximation in Science and Engineering, I would’ve stopped at “it costs less than cash, as it is less than 100% tax”

 

[yash3030]

Yup.

Although, since one of my favorite classes in college was The Art of Approximation in Science and Engineering, I would’ve stopped at “it costs less than cash, as it is less than 100% tax”

Yeah but you have been long enough on this forum to know that someone would've jumped at the opportunity of asking - "How?", and made me explain the math anyways with some unnecessary tangents in between

 

[Worldwide Beagle]

Hopefully they add it soon. They they they

Hope is not a strategy. Certainly not a legitimate business strategy. "Abandon all hope, ye who enter here"