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Get your taxes done using TurboTax
Prior to the passage of the Inflation Reduction Act (IRA) in August, 2022, each manufacturer had a limit on the number of EVs they could sell that could be eligible for the credit. Tesla exhausted their limit prior to 2022. That is why they are not on the 2022 list.
But under the IRA, there is no longer a fleet limit. So Tesla's are now on the eligible list.
You are correct that Line 22 of Form 1040 has to be at least $7500 (prior to the credit being applied) to get the maximum credit.
You may want to read through these IRS FAQs to get yourself comfortable that you will indeed qualify for the credit.
‎October 16, 2023
9:13 AM
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