Please be aware that the EV credit is up to the amount of your federal liability. If there is no income tax no credit would be available in the current year.
if you bought a new, qualified plug-in electric vehicle (EV) in 2022 or before, you may be eligible for a clean vehicle tax credit of up to $7,500 under Internal Revenue Code Section 30D.
The credit equals:
- $2,917 for a vehicle with a battery capacity of at least 5-kilowatt hours (kWh)
- Plus $417 for each kWh of capacity over 5 kWh
The maximum credit is $7,500. It is non-refundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
Please see the IRS link below for more detailed guidance
Credits for New Electric Vehicles
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