Expanding on this... I transferred my $4000 credit to the dealership but our joint income has increased during the year so we no longer qualify. My wife and I recently purchased a house and our first year of mortgage interest is over $32,000.
We made $190,000 and our Federal Income tax total is $25,482. Since we have $6,000+ of mortgage interest deductions to spare ($32,000 - $25,482 = $6,518), do I have to pay back the $4000 EV Tax to the IRS or can I still simply leverage the remainder of my mortgage interest amount for this now owed amount?
