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Hello! I just want to ask about the EV tax credit for 2023. Does the non-refundable tax credit get applied to tax Tax Liability for the whole year, or the tax owed?

For reference, I used 1040 for 2022

Tax Liability is Line 16 of Form 1040.
Tax Owed is Line 37 of Form 1040.

Thank you so much
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4 Replies

Hello! I just want to ask about the EV tax credit for 2023. Does the non-refundable tax credit get applied to tax Tax Liability for the whole year, or the tax owed?

From Sch 3 it lands on line 20 of your 1040 and is subtracted from tax owed. 

Hello! I just want to ask about the EV tax credit for 2023. Does the non-refundable tax credit get applied to tax Tax Liability for the whole year, or the tax owed?

Thank you for the answer. So just to confirm, even if my employer withheld from paycheck more than my tax liability for the year, I am still eligible for EV tax credit as long as my tax liability less all the credits are more than $0 (definitely more than $7,500)?

Hello! I just want to ask about the EV tax credit for 2023. Does the non-refundable tax credit get applied to tax Tax Liability for the whole year, or the tax owed?

Correct. 

Hello! I just want to ask about the EV tax credit for 2023. Does the non-refundable tax credit get applied to tax Tax Liability for the whole year, or the tax owed?

Thank you so much! @Bsch4477 

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