I'm completely confused by how to take advantage of the ev tax credit for the new 2022 ev I just purchased. I typically get a refund and last year received a $6k refund. I understand this is generally not considered good practice by financial planners but I prefer not to owe the government come April. 🙂 However, if my understanding is correct, this means that I would not get any of my credit when I file since it is not refundable. So, I have tried to adjust the deduction on my w4 form field 4b to compensate for the refund I expect in addition to the tax credit and it has had very little effect on my paychecks as I would have expected.
I have read the previous answers and am still confused by they mainly seem to answer what NOT to do but not what TO do. But I am very ignorant to taxes and hope that you all could help me understand my options better.
