JohnB5677
Expert Alumni

Deductions & credits

For EVs placed into service after December 31, 2022, the Inflation Reduction Act extended the up to $7,500 EV tax credit for 10 years—From January 2023 until December 2032. This is the reference to 2023, but it represents the tax law change for 2023 through 2032, not that you can take a credit for a 2023 vehicle on your 2022 taxes.

 

The tax credit is taken in the year that you take delivery of the EV.

@PGarciacaba 

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