Deductions & credits


@geordieontheweb wrote:

They told me that as it was purchased in 2024 and it was not 2 years or older then they didn't need to submit a Form 15400.   Do you know if there is any information on buying a 1 year old EV in 2024?


 

They are correct.  For the used EV credit, the vehicle needs to be at least two years old.  The vehicle did not qualify for the $4000 credit.

 

https://www.irs.gov/credits-deductions/used-clean-vehicle-credit