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Do I have to itemize to get a tax credit for my hybrid vehicle?

 
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2 Replies
jtax
Level 10

Do I have to itemize to get a tax credit for my hybrid vehicle?

I assume you are talking about the all-electric or plug-in hybrid tax credit. If not, please clarify.

 

If so, it is a credit and not a deduction. So itemizing is not relevant.  A credit reduces that tax you owe, not your income. It is much better.

 

However this credit is not "refundable." So if you don't owe taxes you don't get a refund. (Note this is not about whether you "owe" taxes on April 15 or when you file. It is about your tax liability for the year, not your withholding or estimated payments).

 

IRS info on what vehicles qualify is here:

https://www.irs.gov/businesses/irc-30d-new-qualified-plug-in-electric-drive-motor-vehicle-credit

 

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Do I have to itemize to get a tax credit for my hybrid vehicle?

No, you will have to claim credit using deductions and credits

 

  • Click on Deductions and Credits
  • Locate Cars and Other Things You Own
  • On Energy Efficient Vehicles, click on Start
  • Enter the information about the vehicle

 

 

You must have purchased the vehicle new.

 

Click on the link for more information

 

Electric vehicle

 

 

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