KrisD15
Expert Alumni

Get your taxes done using TurboTax

1. No

According to the IRS:

“If you bought a new, qualified plug-in electric vehicle (EV) in 2022 or before, you may be eligible for a clean vehicle tax credit up to $7,500 under Internal Revenue Code Section 30D.

The credit equals:

$2,917 for a vehicle with a battery capacity of at least 5 kilowatt hours (kWh)

Plus $417 for each kWh of capacity over 5 kWh

The maximum credit is $7,500. It is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.”

 

2. No

“To qualify, a vehicle must:

Vehicles purchased in 2023 will have a new set of rules. 

 

 

2023 and after  

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