Question about EV used car credit

hello

IRS has this statement on used EV tax credit. "You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your income is below the threshold for 1 of the 2 years, you can claim the credit."

In this case is year means Calendar year or Tax year? My 2023 income is below and not 2024 and if I want to buy car in Feb 2025 I am still with in tax year..

Thanks

posted

Connect with an expert

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post