I found some tips/answers like the one in the following link, but still have questions:
https://ttlc.intuit.com/questions/4078683-if-i-purchase-an-electric-vehicle-with-the-7500-tax-credit...
In my 2017, I filed head of household with 1 child dependent. My 1040 form shows the following:
Adjusted Gross Income $ 62,728.00
Taxable Income $ 43,553.00
Total Tax $ 4,824.00
Total Payments/Credits $ 8,663.00 (tax withheld from pay checks)
Amount to be Refunded $ 3,839.00
Effective Tax Rate 7.69%
My situation didn't really change much for 2018. Line 47 shows $5,824 and line 63 shows $4,824 (child tax credit was $1,000).
Will I be able to get the full EV $7,500 tax credit or pretty much what line 63 says ballpark?
If I do not qualify for the full credit, anything that I can do to increase it, maybe don't claim the child and let his mom do it?
Any help to clarify would be appreciated.
