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Federal EV Tax Credit ($7,500) for 2023 Tesla Model Y - Joint Purchase with Primary Qualified
My partner ($120k/year) and I ($360k/year) purchased a 2023 Tesla Model Y (MSRP: $52,990) this week which qualifies for a $7,500 federal tax credit. We are unmarried, do not share the same address yet, and file separate tax returns. He is listed as the primary and I am listed as the secondary (810+ credit score to qualify for a 3.50% interest rate) on the title / loan.
Since my income is above the $150k/year limit, can my partner claim the credit for this vehicle on his federal income tax return since he qualifies? It will be a shared vehicle although he will likely use it more than me.
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‎January 17, 2023
12:59 PM