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vishrohan
New Member

EV tax credit , married filing jointly 2024

Hi, 

My husband and I are planning to buy a Tesla. He started working in November 2023 (hasn't paid $7500 in taxes) and I have been working for the whole year (2023). We will be filing our 2023 taxes jointly. My question is if my husband buys (the auto loan will be in his name) the eligible vehicle, will we still be eligible for a $7500 EV tax rebate?

 

Kindly let me know. 

Thanks in advance,

- Vishrohan

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2 Replies

EV tax credit , married filing jointly 2024

bought in what year.

here are the rules for 2023

besides the AGI limits you need a tax liability - generally the same as line 22 on the 2022 return of at least $7500 on the joint 2023 return 

 

see this link at the bottom of the page to see if the vehicle qualifies.

https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after 

 

 

if you buy a qualifying vehicle in 2024, the dealership may offer an advance of the credit which would be applied to the purchase price/financing. I have seen conflicting info on what happens if you don't qualify when you go to file the 2024 return. 

 

EV tax credit , married filing jointly 2024

@vishrohan as long as your combined 2023 income is less than $300,000, you are fine whether you purcahse the vehile in 2023 or 2024.  is Line 22 (prior to applying the credit) going to be at least $7500?  Look at your 2022 tax return - it's the same line item for that year.

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