topic Itax credit, in Get your taxes done using TurboTax

Itax credit,

ruggiero1 — Tue, 10 Mar 2026 07:05:39 GMT

I'm purchasing a new car with a tax credit of $7500. My current tax liability is zero. How will this affect me?

Re: Itax credit,

DoninGA — Mon, 14 Nov 2022 18:49:10 GMT

If you have no tax liability the EV credit will not be used and the credit will not be carried forward to the next tax year.

Re: Itax credit,

Critter-3 — Mon, 14 Nov 2022 20:45:04 GMT

If the dealer is writing the credit into the sale and you are getting a loan based on the anticipation of you getting the EV credit on your tax return to "pay down" the balance on the loan AND you have zero tax liability then all you will get as a refund is what you had withheld and possibility a refundable credit. So just be aware that the dealer will say anything to close the sale and you will be on the hook for the payment.