Electric vehicle 7500 tax credit

If my tax liability is $7600 and I have one child and receive the $2000 child tax credit would I still get the full $7500 electric vehicle tax credit. Or, would I lose some of the child tax credit? If I didn't lose the child tax credit would I expect a refund of $9500?

Deductions & credits

that's going to take your tax liability to $0....no refund

Deductions & credits

Ok ... the CTC reduces the EV credit by $600 because the non refundable portion must be taken into consideration first ... then the EV credit is used ... so if you have $7600 of tax liability the CTC of $600 will be used first and then the EV credit will max out at $7000 bringing your tax down to zero and the excess EV credit is lost forever.

Now as to your refund ... the rest of the CTC will be refunded as the ACTC (additional CTC) of $1400 plus any other withholding that is not used for non federal tax liabilities like SE taxes.

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Deductions & credits

If I did a IRA Conversion to a Roth to get another $500 in tax owed would that result in using all the $7500 EV credit?

Deductions & credits

Increasing your income to take full advanrage if the EV credit is wise.