How do i get my 7,500 tax credit for my tesla

[dylon10222]

i filled in my info and it says i get 0 credit

[VolvoGirl · Accepted solution]

You have to have a tax on line 16 to reduce.   The EV credit only reduces the regular income tax liability on 1040 line 22 to zero. Then you will get back all your withholding and any refundable credits. But it doesn't reduce any other taxes on line 23 like self employment tax or a 10% early withdrawal penalty on IRAs.