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Self employed
Your EV credit does apply to income tax from self-employment net income, it just doesn't apply to your self-employment tax. Your self-employment tax is not an income tax in the traditional sense of the word. It is actually a contribution to your retirement account with the social security administration. That is why the EV credit cannot apply to it as it is only allowed as a credit against income tax, a restriction that applies to all tax credits. There are no tax credits that apply to social security/self-employment tax . @stevejen
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‎February 15, 2024
5:28 PM
5,032 Views