Can my girlfriend get the $7500 EV tax credit if I list her as a co-owner of the vehicle when I purchase it? I am not eligible for the tax credit, she is.

[jessejessejesse]

I made over the $150,000 limit in both 2022 and 2023. My girlfriend (whom I live with) made under the $150k limit in 2022, and will make over the $150k limit in 2023. 

If I purchase an eligible EV, and list her as a co-owner of the vehicle on the title, would she receive the $7500 credit? She would be driving the vehicle roughly half of the time. Would there be any other considerations to make? Would she need to be a co-signer on the loan?

[DoninGA]

If both of you are on the title for the vehicle then only One of you can claim the credit on their tax return.

Go to this IRS website for the EV credit and review Q11 - https://www.irs.gov/newsroom/topic-a-frequently-asked-questions-about-the-eligibility-rules-for-the-...

Q11. Can the new clean vehicle credit be split between multiple owners? (added March 31, 2023)

A11. No. In certain instances, multiple taxpayers may purchase, place in service, and be titled as owners of a single vehicle. For example, a married couple that files separate tax returns may jointly purchase and take possession of a new clean vehicle that qualifies for the credit and both be titled as owners of the vehicle. However, only one taxpayer can claim the new clean vehicle credit per vehicle placed in service, and the credit may not be allocated or prorated between multiple taxpayers. In the case of married taxpayers filing jointly, either spouse may be identified as the owner claiming the new clean vehicle credit.

The name and taxpayer identification number of the owner claiming the credit new clean vehicle credit should be listed on the seller's report. See Topic B, FAQ 9. Accordingly, multiple owners of a new clean vehicle should inform the seller which owner will claim the new clean vehicle credit so that the seller can identify that taxpayer on the seller's report. The credit would be allowed only on the tax return of the owner listed in the seller's report.

[jessejessejesse]

Thank you. Both of us will be on the title for the vehicle, but she will be the only one eligible/claiming the credit on the tax return. 

[Bsch4477]

If a co-owner she can claim the credit. The credit cannot be split in any event. 

[dmertz]

If you list her on the title as co-owner but you finance the entire purchase, that would generally be considered to be a gift to her of 50% of the purchase price of the vehicle and require you to file Form 709 with the IRS to report the gift.  If you sell the vehicle she would be entitled to 50% of the net proceeds.

[Mike9241]

it is not the names on the title that is relevant for the credit but whose name is on the seller's report that it files with the IRS. 

Accordingly, multiple owners of a new clean vehicle should inform the seller which owner will claim the new clean vehicle credit so that the seller can identify that taxpayer on the seller's report. The credit would be allowed only on the tax return of the owner listed in the seller's report.