@martinaddison wrote:
Can you use the EV tax credit for the new credits that will go into effect on 1/1/23 if you do not itemize deductions?
Also, I had a Solar & EV credit that I was not able to use in the past 6-10 years because my taxable income was too low. May I use those credits now or in the future?
If you were the original owner of the electric vehicle then you need to claim the credit on the tax return for the year of purchase. The EV tax credit does NOT carry forward to future tax years if the credit cannot be used on the tax return for the year of purchase.
The Residential Energy Efficient Property Credit for Solar installations can be carried forward to future tax years if the credit cannot be fully used in the tax year of the purchase and installation of the Solar system.
You should contact a local tax professional to assist you in determining how much, if any, of the Residential Energy Efficient Property Credit can be used on the 2021 or 2022 tax returns.
