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Deductions & credits
The PHEV credit goes against your tax liability. If you have no tax liability, you would not receive credit. The credit is not refundable, you don't get more back than your tax liability. Therefore, your minimum income would be whatever creates a tax liability.
For example:
Tax liability is $1,000
max PHEV would be $1,000
See Instructions for Form 8936.
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March 16, 2021
11:48 AM