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Can I place GF on title for Used EV Tax credit. She will claim it and then transfer ownership?

Looking to take advantage of the used EV tax credit. I found a model that meets all the requirements. We were going to perform the transaction through Keysavvy as they can facilitate the $4k tax credit during the purchase. I make too much money to qualify for the used EV credit however my girlfriend does not. Can I take out an auto loan 100% in my name but put her name on the title during registration so she can claim the credit? Then later on have her transfer full ownership to myself? She will drive the car.

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MaryK4
Employee Tax Expert

Can I place GF on title for Used EV Tax credit. She will claim it and then transfer ownership?

If your girlfriend is placed on the title just to claim the credit with the intent before acquisition to transfer the title to you, you are most likely committing tax fraud.  One of the requirements is that the purchaser is an individual who bought the vehicle for use.  If she does not have the money to buy the car and you are getting a loan in your name to buy the vehicle, she is not the purchaser.  

 

Publication 5866-A, Used Clean Vehicle Tax Credit Checklist  

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