Do i get a federal tax credit every year for my electric car. I have a 2014 that was bought new. do i get to take a credit every year?

i took this credit in 2014 do i get the same credit in 2015?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Do i get a federal tax credit every year for my electric car. I have a 2014 that was bought new. do i get to take a credit every year?

No, you can only claim the credit in the year the vehicle is placed in service.

It is not a credit that you can claim each year that you continue to own it.

https://www.irs.gov/Credits-&-Deductions/Individuals/Plug-In-Electric-Drive-Vehicle-Credit-Section-3...

View solution in original post

2 Replies

Do i get a federal tax credit every year for my electric car. I have a 2014 that was bought new. do i get to take a credit every year?

No, you can only claim the credit in the year the vehicle is placed in service.

It is not a credit that you can claim each year that you continue to own it.

https://www.irs.gov/Credits-&-Deductions/Individuals/Plug-In-Electric-Drive-Vehicle-Credit-Section-3...

Do i get a federal tax credit every year for my electric car. I have a 2014 that was bought new. do i get to take a credit every year?

I bought a Tesla in Sept 2106 & sold in Feb 2017. Can I still claim Federal Tax Credit ?

Still have questions?