BarbL
Employee Tax Expert

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Unfortunately, the full deposit must have been made prior to August 16th to meet the IRS definition.  

If a vehicle is purchased in December but not delivered until 2023, it will be subject to the new rules.  There is a bit of a middle ground for vehicles purchased AND delivered between August 16 and December 31,2022, but you'll fall outside those rules if you don't take possession prior to the end of the year. 

It's a crazy change to the rules, and honestly unfair when so many people have had to wait so long for delivery of a vehicle.

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