If the Toyota RV4 Prime is a 2021 model purchased in 2022, it appears it will qualify for the $7,500 plug-in electric drive motor vehicle credit.
Toyota has officially reached the 200,000 electric vehicles sold threshold, so for 2022 models the vehicle will only be eligible for a $3,750 tax credit.
Th Inflation Reduction Act of 2022 added a new requirement for final assembly of the vehicle that took effect on August 17, 2022. The Toyota RAV4 Prime does not meet this requirement. Hopefully, your written contract for purchase occurred before August 16, 2022.
