EV tax credit 2024

[JamesD90]

The EV tax credit may be deducted as a price discount from the sell price of the vehicle, by the dealer, after Jan, 1, 2024, if a tax payer chooses to pass the credit to the dealer. Does the tax payer still need to meet the income limit requirements in this case or would this be considered just a "random" sell price discount by the dealer?

[Mike9241]

the qualification rules apply and the buyer will need to fill out paperwork for the dealer to send to the IRS. 

[Critter-3]

From what I have read to date ... if you get the advance credit on the purchase price based on the estimated income  you provide to the dealership and then you file a return but you no longer qualify for the credit due to your actual income then you will have to pay back the portion of the credit you do not qualify for on your tax return.  More guidance from the IRS to come. 

https://www.irs.gov/newsroom/topic-h-transfer-of-new-clean-vehicle-credit-and-previously-owned-clean... 

https://www.nerdwallet.com/article/taxes/ev-tax-credit-electric-vehicle-tax-credit#:~:text=In%202024....