@rbatra311 - the withholdings have nothing to do with eligibility for the credit.
Please review Form 1040 (the line items for the 2021 version and the 2022 version noted below are the same)
Your tax is calcuated on Line 18
The EV Credit is posted on line 20
Line 22 is Line 18 minus Line 20, but not less than zero. So as long as Line 18 is at least $7500, you get the whole credit.
However, do note that there is also an income limitation if you went under contract on your vehicle after the Inflation Reduction Act took affect (late August, 2022). If you MAGI (LIne 11 of Form 1040 for most everyone) must be below these numbers for either the current year or the prior year to be eligible for the credit:
single: $150,000
MFJ: $300,000.
HOH: $225,000
If your MAGI is above these limits in BOTH the current year and the prior year, you are not eligile for the credit.
