Clean energy Vehicle - Buy versus lease

[aliasingh]

I got an Electric vehicle in 2024. But I leased the car did not buy it, the question on the tax form asks if i bought the vehicle. Can i say yes with a lease? or does it have to be a purchase?

[MarilynG1]

For an individual, the credit can only be claimed for purchased vehicles.  Here's more info on the Clean Vehicle Credit.

If owned by a business, it may qualify as a General Business Credit.  Here's more info from the IRS on Commercial Clean Vehicle Credit.

@aliasingh 

[aliasingh]

@MarilynG1 Ah thanks Marilyn so confirming since I am an individual leasing a Tesla I do not get to take advantage of this benefit.