EV Tax credit for 2022 for Tesla

[brian-perrigino]

Hi, I purchased a Tesla Model 3 in March 2022 (ordered in January 2022).   Am I correct in that this is NOT eligible for any tax credit when I file my 2022 tax return?    Is there any credit for New York State filing?

Thanks.

Brian

[Anonymous_]

Perhaps @Critter-3 can answer this question.

[Critter-3]

Read up here for the feds : 

https://www.irs.gov/credits-deductions/manufacturers-and-models-for-new-qualified-clean-vehicles-pur...

New York

State Incentives

Electric Vehicles

• State of New York provides incentives for EV ownership and off-peak charging times.
• State emissions testing exception.
• Drive Clean Rebate of $500 for EVs purchased after June 30, 2021.

Solar and Energy Storage

• Solar: Up to $5,000 state tax credit.

[melopez63]

The turbo tax software is not calculating the EV income tax credit for a 2022 Tesla model 3, indicating that Tesla no longer qualifies because manufacturers cap of 200,000 EV has been reached. However, I read that the New Federal Tax Credits in the Inflation Reduction Act, includes a provision which eliminated the 200,000 cap on Evs sold.

Is this correct?

[DaveF1006]

This has been reinstated for year 2023 but does not apply in tax year 2022 according to Bloomberg Law.

@melopez63 

[dldovinh]

To Expert DaveF1006:

Then can I get that EV credit (for 2022 Tesla Model 3 bought/received in 2022) when I file 2023 tax return, next year?

[DoninGA]

---

@dldovinh wrote:

To Expert DaveF1006:

Then can I get that EV credit (for 2022 Tesla Model 3 bought/received in 2022) when I file 2023 tax return, next year?

---

No.  Since the vehicle was placed in service in 2022 you cannot get an EV tax credit on your 2023 tax return.