Federal EV Credit Twice?

[dmertz · Accepted solution]

That's the way I read it.  I assume that you did not transfer the credit, so that section would not apply.

Prior to the changes made by the Inflation Reduction Act of 2022, § 30D(a)(1) read:

(1)Allowance of credit
In general. There shall be allowed as a credit against the tax imposed by this chapter for the taxable year  an amount equal to the applicable amount with respect to each new qualified plug-in electric drive motor vehicle placed in service by the taxpayer during the taxable year.

This is essentially the same as what is now in § 30D(a).