Energy-Effecient Vehicles PHEV tax credit

ddemase · ‎February 2, 2020

In Nov. 2016 I leased a Ford Fusion Energi PHEV (Plug-in Hybrid Electric Vehicle) for three years. In Nov. 2019 I bought out the lease and now own the vehicle outright. Am I entitled to a Energy-effecient-vehicle tax credit in 2019? I have not declared any tax credits in previous years for these events.

JohnW222 · ‎February 2, 2020

No, unfortunately, you're out of luck.

A plug-in electric vehicle must be brand new in the tax year the credit is claimed.

And you weren't eligible for the credit when you leased the vehicle, since you weren't the owner then.

Please see the TurboTax Help article “Filing Tax Form 8936: Qualified Plug-in Electric Drive Motor Vehicle Credit” for more information.

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JohnW222 · ‎February 2, 2020

No, unfortunately, you're out of luck.

A plug-in electric vehicle must be brand new in the tax year the credit is claimed.

And you weren't eligible for the credit when you leased the vehicle, since you weren't the owner then.

Please see the TurboTax Help article “Filing Tax Form 8936: Qualified Plug-in Electric Drive Motor Vehicle Credit” for more information.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

JBB1 · ‎February 7, 2020

I'm pretty certain the credit goes to the leasing company. Sorry

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Energy-Effecient Vehicles PHEV tax credit