Deductions & credits

@c033688 for new cars, there is no limit to the number of EVs you can purcahse in a calendar year. 

 

The benefit to doing so is limited by a different factor: you have to have the tax liability that exceeds the EV credit for it to be worthwile, i.e. Line 22 of Formn 1040 (prior to the credit) has to be high enough to create the benefit.  

 

for example, if Line 22 is $22,500, you could conceivably buy 3 eligible EVs and get the $22,500 tax credit, but if you buy the 4th one, there is no tax benefit. 

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