Hello: I placed a binding contract for EV SUV on July 13th 2022. But due to supply chain issues the vehicle will be delivered in April 2023. Can I still claim EV Tax Credit of $7500 under IRA transition rules? Looks like IRS has updated guidelines for this credit. My purchase date is still before August 16th 2022.
IRS has an update to transition rule as of December 2022.
https://www.irs.gov/credits-deductions/credits-for-new-electric-vehicles-purchased-in-2022-or-before
Purchase date vs. delivery date
If you entered a written binding contract to buy a vehicle before August 16, 2022, but took possession on or after August 16, 2022, and before January 1, 2023, you may claim the credit based on the prior rules and disregard the assembly requirement.
If you purchased a vehicle between August 16, 2022 and December 31, 2022 but don't take delivery of the vehicle until 2023, see Credit for New Clean Vehicles Purchased in 2023 and After.
How to Claim the Credit
To claim the credit for a vehicle you took possession of in 2022, file Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit (Including Qualified Two-Wheeled Pl... with your 2022 tax return. You will need to provide your vehicle's VIN.
