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)?
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:
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:
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