- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Unfortunately credits like the Electric Vehicle credit can only be applied to your income tax due. They don't have any effect on your self-employment tax. Since you are self-employed the amount of tax that you are left with after the EV credit is applied is the social security and medicare that is due on your self-employment income. The EV credit can't be used to reduce that.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 13, 2025
10:57 AM
1,882 Views