Clean Vehicle Deduction

The 2015 Chevy Volt will qualify under current tax laws. TurboTax is not fully updated yet.  The update for the energy credits are expected to happen on January 24th.  After that you should be able to select 2015.

Some other things to remember for the credit. The Used EV Credit is worth 30% of the purchase price up to $4,000.  In order to qualify, you must meet the following criteria:

• You must NOT be the original owner
• You must NOT be claimed as a dependent on another persons tax return
• You must NOT have claimed a used vehicle credit in the past 3 years
• You must be the person who bought the vehicle for use and not for resale
• Your AGI cannot be greater than:
  • $150,000 for Married Filing Jointly
  • $112,500 for Head of Household
  • $75,000 for all other filers
    • You can use your AGI from the year you buy the vehicle or the year before if your income would qualify in one year but not the other. 

For the vehicle to qualify the following has to be met:

• At least 2 years older than the current model year (for 2023 Tax Season this means a 2022 model or older) 
• Must have a sales prices of no more than $25,000
• Be used primarily in the US
• Have a GVWR of less than 14,000lbs
• Cannot have been used for a used vehicle credit previously
• Bought from a dealer (cannot be a private sale)
• The dealer must report certain information to you at the time of the sale

This Credit is Non-Refundable and cannot be carried forward. 

The IRS Form 8936 Clean Vehicle Credits for tax year 2023 has not yet been finalized in TurboTax.

The form is scheduled to be available on 02/21/2024 in TurboTax.

Go to this TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product=Turbotax_online&bu=cg