topic Electric Vehicle Tax Credit On Lease in Tax law changes

Electric Vehicle Tax Credit On Lease

mmcauliffe0752 — Mon, 30 Jan 2023 14:55:17 GMT

I leased a 2022 Kia Sorrento Plug-In Hybrid in March, 2022. Does it qualify for the electric vehicle tax crdit?

KrisD15 — Mon, 30 Jan 2023 15:20:49 GMT

No, the vehicle must be purchased.

The dealer could apply for the credit.

mmcauliffe0752 — Mon, 30 Jan 2023 17:13:47 GMT

Thank you. I found the information on IRS website

You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit.