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countrychik66
New Member

Do i get a federal tax credit every year for my electric car. I have a 2014 that was bought new. do i get to take a credit every year?

i took this credit in 2014 do i get the same credit in 2015?
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Accepted Solutions
AnnetteB
Intuit Alumni

Do i get a federal tax credit every year for my electric car. I have a 2014 that was bought new. do i get to take a credit every year?

No, you can only claim the credit in the year the vehicle is placed in service.

It is not a credit that you can claim each year that you continue to own it. 

https://www.irs.gov/Credits-&-Deductions/Individuals/Plug-In-Electric-Drive-Vehicle-Credit-Section-3...

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2 Replies
AnnetteB
Intuit Alumni

Do i get a federal tax credit every year for my electric car. I have a 2014 that was bought new. do i get to take a credit every year?

No, you can only claim the credit in the year the vehicle is placed in service.

It is not a credit that you can claim each year that you continue to own it. 

https://www.irs.gov/Credits-&-Deductions/Individuals/Plug-In-Electric-Drive-Vehicle-Credit-Section-3...

View solution in original post

damangarry
New Member

Do i get a federal tax credit every year for my electric car. I have a 2014 that was bought new. do i get to take a credit every year?

I bought a Tesla in Sept 2106 & sold in Feb 2017. Can I still claim Federal Tax Credit ?
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