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Get your taxes done using TurboTax
Hi @Akram ,
EV credit is a non refundable credit which implies you can only claim this credit against any taxes you owe on your tax return.
You may change your W-4 to reduce withholding so that you would owe when you file your 2023 tax return. Then the EV credit can be applied to reduce your tax to $0. The EV credit cannot be received as a refund, it can only reduce the tax you owe to $0.
Below is a helpful link with more details regarding this credit:
What is an electric car tax credit?
You will see that the credit is dependent on many factors.
May 24, 2023
3:53 PM