Hey there, I bought an EV in 2023. A 2023 Tesla Model 3. I’m self employed. I usually owe around $7500 in Taxes each year, however, roughly $5400 of that is in Self Employment Taxes. I bought this Vehicle thinking I’d be able to claim the full $7500 tax credit, however, I am now hearing/learning that this credit doesn’t apply to the self employment tax portion of my tax liability. Is this true? If this is true, what are some of my options into year end as to still maximize this credit? If I sell stocks/crypto and realize a capital gain, will the tax credit be able to cover the amount of tax I owe on those gains? Any other ideas are welcomed as I'd hate for this credit to go to complete waste. However, I also don't want to unnecessarily increase my AGI, which would lead to higher health insurance premiums and also more owed in state taxes. Are there any great or unique solutions to this? Thanks!
