Regarding Electric vehicle.

[Nobs]

Hi,

I ordered Tesla model Y in October 2021 and got it in October 2022,I would like to know about the federal rebate.Do I am eligible  to get for rebate or any other offers while filing taxes? I got rebate only through the county.Please let me know.Thank you in advance

[Vanessa A]

Possibly.  The Tesla Model Y was not eligible for the tax credit in 2022.  In 2023, it was eligible for the credit, but since you put the car into service in 2022, you cannot take the credit on your 2023 return.  However, if you were under contract to purchase your car in 2021, you would possibly be able to claim the credit for the model Y as this is one of the loopholes to the denial of the credit for 2022.  

To find out if you are able to claim the credit, you would need to Amend Your Return for 2022 and enter your VIN and purchase price along with answering the question that says it was under contract in 2021. TurboTax will then tell you if you are eligible for the credit and how much you would be eligible for based on the information you enter.