Electric Car Credit and Income Limitations

[dfv1234]

Are there income limitations for claiming the Electric Car Tax credit?  I am considering either buying or leasing a car that comes with a $7500 credit.  If I lease it, the dealer will take the $7500 credit off the purchase price but if I buy the car I will have to file for the credit on my 2020 taxes.  My income is in the highest bracket, so the $7500 credit would be worth quite a bit but not if I am limited by my income.

[DoninGA]

There are no income limitations for the Electric Vehicle Tax Credit.

IRS Form 8910, Alternative Motor Vehicle Credit - https://www.irs.gov/forms-pubs/about-form-8910

[shirleyhiga]

i heard that the electric car credit was discontinued.  

[DoninGA]

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@shirleyhiga wrote:

i heard that the electric car credit was discontinued.  

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The credit is still available for tax year 2020.  IRS Form 8910 - https://www.irs.gov/forms-pubs/about-form-8910