Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 20, 2024 2:16:02 PM

Do I qualify for a second Used Clean Vehicle Credit?

Do I qualify for a second Used Clean Vehicle Credit?

 

I 'solo' financed a PHEV in October 2023 and claimed the credit when I filed 'jointly' taxes with my wife in 2024 (for the 2023 tax year), as we always do. My question is, can she now 'solo' finance another PHEV in 2024 and claim the credit when we file 'jointly' in 2025 (for the 2024 tax year)?

0 3 10595
3 Replies
Level 15
May 20, 2024 2:20:31 PM

Go to this IRS website for information on the Used Clean Vehicle Credit - https://www.irs.gov/credits-deductions/used-clean-vehicle-credit

 

To qualify, you must:

  • Be an individual who bought the vehicle for use and not for resale
  • Not be the original owner
  • Not be claimed as a dependent on another person's tax return
  • Not have claimed another used clean vehicle credit in the 3 years before the purchase date

In addition, your modified adjusted gross income (AGI) may not exceed:

  • $150,000 for married filing jointly or a surviving spouse
  • $112,500 for heads of households
  • $75,000 for all other filers

New Member
May 20, 2024 2:35:44 PM

Thank you for the link. The part I need clarification is in if it matters if it's financed through me or her or just the fact that we filed jointly it automatically disqualifies us for a second PHEV

Level 15
May 20, 2024 2:48:20 PM

It is based on who will be the owner of the vehicle, not the filing status on your tax return.