Ask the Tax Editor, November 6: Questions on EV Chargers, Online Sports Betting

Each week in our Ask the Tax Editor series, Joy Taylor, The Kiplinger Tax Letter editor, answers questions on topics submitted by readers. This week, she's looking at four tax questions from readers. (Get a free issue of The Kiplinger Tax Letter or subscribe.)

Q1. Can you still get a tax credit for an EV charger?

Question: I just bought a Tesla, and I am planning on installing an electric vehicle charger in my home so I can charge my vehicle. Can I get a federal tax credit for installing the charger?

Joy Taylor: No. The EV tax credit expired on June 30, 2026. That means you had to buy the charger and install it in your home by June 30. The federal tax credit is equal to 30% of the cost of equipment and installation of an EV charger or $1,000, whichever is smaller.

Q2. What's the IRS's mileage rate?

Question: What is the IRS's standard mileage rate for business driving for 2026?

Joy Taylor:
- From January through June 2026, the IRS's standard mileage allowance for business vehicle usage is 72.5 cents per mile.
- From July through December of this year, the rate is 76 cents per mile for business driving.

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The IRS raised the standard mileage rate mid-year because of the higher gas prices at the pump.

Q3. Federal gas tax

Question: With gas prices so high this year, will Congress suspend the federal gasoline tax?

Joy Taylor: That is unlikely. Some Republican lawmakers have called for a temporary suspension of the (18.4 cents-per-gallon) federal gasoline tax. But many other lawmakers oppose the idea, saying it won't do enough to lower the cost of gas. Others have expressed concern about the already-struggling Highway Trust Fund, which is funded mainly by federal gas tax revenue and faces financial pressure.

Q4. Are online sports betting winnings taxable?

Question: I participate in online sports betting, specifically fantasy football. Are my winnings taxable?

Joy Taylor: Yes. Winnings from online sports betting are taxable as gambling income. This is true whether you are playing in fantasy sports leagues, in which cash prizes are based on the performance of professional athletes, or you are betting on the outcome of a particular event, such as the Super Bowl or a basketball game.

You report winnings on Schedule 1 of Form 1040. If you itemize on Schedule A, you can deduct gambling losses, but the write-off is limited to the lesser of (1) 90% of the losses or (2) the winnings from gambling.

Some gamblers can file Schedule C if their gambling activity is extensive enough to rise to the level of a trade or business, but this can be a tough hill to climb.

About Ask the Editor, Tax Edition

Subscribers of The Kiplinger Tax Letter, The Kiplinger Letter and The Kiplinger Retirement Report can ask Joy questions about tax topics. You'll find full details of how to submit questions in each publication. Subscribe to The Kiplinger Tax Letter, The Kiplinger Letter or The Kiplinger Retirement Report.

We have already received many questions from readers on topics related to tax changes in the One Big Beautiful Bill, retirement accounts and more. We will continue to answer these in future Ask the Editor roundups. So keep those questions coming!

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