topic IRA Credit for 2022 EV in Get your taxes done using TurboTax

IRA Credit for 2022 EV

TaxTy — Tue, 10 Mar 2026 06:02:42 GMT

Under the transition rules for IRA for the IRC 30D EV credit, if I have a prior to 08/16 purchase agreement for an eligible 2022 vehicle but did not take delivery of the car yet, I can still claim old credit. It would need to be treated as if it was purchased prior to 08/16. In this situation

1) What kind of paperwork do I need to show for claiming this in turbo tax 2023 season? I have a dealer signed purchase order from March ‘22 that says “Not binding unless not signed by dealer”. It has specifics of new vehicle, agreed purchase price, and $1000 (2.5% total) deposit. Is this sufficient? Or do I need to make an explicit purchase agreement before 08/16 with a 5% deposit?

2) Is the credit for Toyota brand vehicles subject to any phaseout after 09/30? Since the IRA came into effect would it stop the count for 200k vehicle limit?

I am anticipating that I will take delivery and complete registration for a 2022 Toyota RAV4 Prime in month of October.

Re: IRA Credit for 2022 EV

Anonymous_ — Tue, 27 Sep 2022 20:36:02 GMT

You most likely are not going to get an answer to your question on this board since not many have scrutinized (or even read, for that matter) the IRA.

@Opus17 has done more than most here but obviously has not yet posted an answer to this thread nor the other one you started (and since deleted).

Re: IRA Credit for 2022 EV

Anonymous_ — Tue, 27 Sep 2022 20:38:33 GMT

There will be an "Ask the Experts" event tomorrow (9/28) which will specifically address the Inflation Reduction Act.

You might want to repost your question tomorrow.