Hello @Jeffrey23
Yes, that is an option, to choose between the 2 years per the IRS. I definitely understand wanting to be sure though. But just for confirmation, I obtained this from an IRS Fact Sheet: https://www.irs.gov/pub/taxpros/fs-2023-08.pdf Topic B, page 4.
Q1. Could my income level prevent me from taking the new clean vehicle credit? (updated March 31, 2023)
A1. Yes. You may not claim the credit if your modified adjusted gross income (AGI) exceeds certain thresholds. This limitation is based
on the lesser of your modified AGI for the year that the new clean vehicle was placed in service or for the preceding year. The relevant
modified AGI thresholds are as follows:
• Married filing jointly or filing as a qualifying surviving spouse or a qualifying widow(er) - $300,000
• Head of household - $225,000
• All other taxpayers - $150,000
Your modified AGI is the amount from line 11 of your Form 1040 plus:
• Any amount on line 45 or line 50 of Form 2555, Foreign Earned Income.
• Any amount excluded from gross income because it was received from sources in Puerto Rico or American Samoa.
If your filing status changes between the preceding year and the current year, you may claim the new clean vehicle credit if your modified AGI is at or
below the threshold in the preceding year or current year based on applicable filing status for that year.
I hope you enjoy your new car 🙂
**Say "Thanks" by clicking the thumb icon in a post**
**Mark the post that answers your question by clicking on "Mark as Best Answer"** Thank you for joining us today!
