TT does not ask if you are the original owner. there is a highlighted area at the upper left of the worksheet where you enter vehicle info such as vin which says "Read these important credit qualifications". Did you read them? then TT would have shown one qualification is to be original owner.
The following requirements must be met to qualify for
the credit.
• You are the owner of the vehicle. If the vehicle is
leased, only the lessor and not the lessee, is entitled to
the credit.
• You placed the vehicle in service during your tax year.
• The vehicle is manufactured primarily for use on public
streets, roads, and highways.
•
The original use of the vehicle began with you. IRC Code Sec 30D(d)(1)(A)
You cannot get an electric vehicle credit on a used electric vehicle. The credit is only for new vehicles.
When I entered all the details in Turbo tax it showing up and $2500 credit, why is that?
TT does not ask if you are the original owner. there is a highlighted area at the upper left of the worksheet where you enter vehicle info such as vin which says "Read these important credit qualifications". Did you read them? then TT would have shown one qualification is to be original owner.
The following requirements must be met to qualify for
the credit.
• You are the owner of the vehicle. If the vehicle is
leased, only the lessor and not the lessee, is entitled to
the credit.
• You placed the vehicle in service during your tax year.
• The vehicle is manufactured primarily for use on public
streets, roads, and highways.
•
The original use of the vehicle began with you. IRC Code Sec 30D(d)(1)(A)
If you file the return with this credit on it the IRS will either reject it right away or sometime in processing since the VIN cannot be entered on more than one tax return and the original first owner has claimed the credit on that VIN already.