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Income limits by year under the Inflation Reduction Act
I think that for an EV credit the income limit is $150,000 and it's the lesser of the current or prior tax year's income (which is good because I qualify for 2023 based on my 2022 income).
What I can't find is whether the sale either-year rule applies to:
Solar panels (I have a carry-forward from last year)
and/or
Electrical panel upgrade
and/or
EV car charger
and/or
Induction range
I may need to increase my taxable income to make sure I use up the non-carry-forwardable $7500 car credit, but not blow past the income limit, which I can do by converting a Roth or taking capital gains.
‎June 16, 2023
6:55 AM