I bought an EV in 2023 that is eligible for a 7500 tax credit. This was the main reason for my purchase.
Due to several errors throughout the year on my part, including overlooking phantom income from group term life insurance, and under-contributing to traditional 401k, it looks like I'll be about $91 over the income limit. I've already maximized the pre-tax HSA contribution for 2023 (3850). Also of note, I did not contribute to IRA in 2023 as it appears that will not reduce my taxable income.
My income in 2022 was also over the limit because I did not contribute to pretax accounts, not knowing I would be purchasing an EV or that the previous tax year was eligible.
I'm so close to being below the limit for both years. Am I just out of luck or do I have any options?
