jrusso300
New Member

Deductions & credits

I'm sorry, that's exactly how that reads now that I see it again. My concern was that I may not get the full 7500 that is offered in the form of a tax credit for buying an EV. I have since learned that line 63 on my past 1040 is a decent guide to sort of figure out what my tax liability might be (unless I'm wrong). My guess is that if that figure is less than the full 7500 then I would only get credit for that amount, looks like I may loose a couple thousand. I was thinking about going exempt on the next couple of paychecks to increase my tax liability, but I'm not sure if that would work either. Thanks for responding to my silly ignorance.