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Deductions & credits
Hello,
I just came across this thread and, given the ambiguity around "placed in service," was idly wondering if my 2022 Bolt EUV, which I purchased in Oct of last year might still somehow qualify for the tax credit that kicked in for GM on Jan 1. My reasoning is that if I financed the car last year and then am paying it off this year, and in doing so getting the actual title in 2023, could "date of acquisition" actually be considered 2023 for tax credit purposes?
I would have waited until 2023 to get the car but in Oct last year everyone was saying GM still wouldn't qualify for the full $7500 after Jan 1 b/c of the battery sourcing requirement. Really wish I hadn't listened to the news media and had just waited to see how Biden actually implemented the IRA.
Thanks!
Eric