Electric vehicle credit

[hashu1]

Hello - I purchased a electric vehicle in 2017 and got the credit back as part of my taxes.  I purchased another electric vehicle in 2019, am I able to claim the credit again for the new electric vehicle or is it just a one life time credit?

[AnnetteB6]

You can claim the credit each time you purchase a new electric vehicle and place it in service.  There is not a lifetime limit for claiming the electric vehicle credit.  

@hashu1

[hashu1]

Thank you so much.

Since I am leasing the vehicle, my understanding is I cannot claim that credit then, correct?

[TerryA]

That's correct. Only the "owner" (the lessor in your case) can take the credit.

[hashu1]

Thanks for the response.

So for my situation, my wife filed out taxes claiming the credit without knowing the lease rules.  What would be the best course of action at this point? Should we wait to see what the outcome of our return is and then file an amendment to remove that credit? Or will the IRS be able to know that we leased the vehicle and then remove the credit from our return and send us a letter in the mail on the amendment?

[DoninGA]

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@hashu1 wrote:

Thanks for the response.

So for my situation, my wife filed out taxes claiming the credit without knowing the lease rules.  What would be the best course of action at this point? Should we wait to see what the outcome of our return is and then file an amendment to remove that credit? Or will the IRS be able to know that we leased the vehicle and then remove the credit from our return and send us a letter in the mail on the amendment?

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Your best course of action is wait for the IRS to process and issue your federal tax refund and then you can amend the 2019 tax return that was filed.

An amended tax return, Form 1040X, can only be printed, signed, dated and mailed by you to the IRS, it cannot be e-filed. The IRS will take up to 4 months to process the amended tax return. 

To access your online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/

Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show. Click on the Year and Click on Amend (change) return

See this TurvrboTax support FAQ for amending a 2019 tax return - https://ttlc.intuit.com/community/tax-topics/help/how-do-i-amend-a-2019-return-in-turbotax/01/123845...