@SteamTrain
"The tax liability that the credit is used against, is the tax amount before considering how much you've already paid in thru withholding or any estimated tax payments."
I didn't quite understand this statement. Are you saying that the addition taxes ($2,500 in my example) is the tax liability and I can claim only that much in EV Tax Credit?
As mentioned in my example, let's say, my total tax that I owe to the IRS comes out to $22,500 (of which $20,000 I already paid in form of withholdings, and $2,500 is the additional taxes I owe, say because of capital gains).
Thanks you for responding!
