If I owe more than $7500 of federal tax but receive a refund, can I still use the electric vehicle credit and get the full value of that credit, i.e. a larger refund?

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The credit is applied directly against federal tax liability which in turn gives you a larger refund ... the fact that you had a refund before the credit is applied has nothing to do with it.

While filing my colorado state taxes, there is a section called innovative motor vehicle credit. I did not buy a car but have $8000 dollars here. Why???

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If I owe more than $7500 of federal tax but receive a refund, can I still use the electric vehicle credit and get the full value of that credit, i.e. a larger refund?

If I owe more than $7500 of federal tax but receive a refund, can I still use the electric vehicle credit and get the full value of that credit, i.e. a larger refund?

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Do you have a TurboTax Online account?

If I owe more than $7500 of federal tax but receive a refund, can I still use the electric vehicle credit and get the full value of that credit, i.e. a larger refund?

Do you have an Intuit account?

If I owe more than $7500 of federal tax but receive a refund, can I still use the electric vehicle credit and get the full value of that credit, i.e. a larger refund?

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