Solved
Electric engine
We want to convert our 2007 Volkswagen Beetle and our 1992 Volkswagen Beetle to eectric by buying them an electric engine kit, do they qualify for the 30% tax credit?
KochuKAnswer
Alumni - Intuit
September 28, 2022
Hi Yamayor, thanks for the event question.
Inflation Reduction Act of 2022 (IRA 2022) signed into law on 8/16/2022. Hence terms used here are “Pre-IRA 2022” and “Post-IRA 2022.”
The IRA 2022 provisions on individual taxpayer EV credits are Internal Revenue Code 30D for "Clean Vehicle Credit" and Code 25E for "Previously-Owned Clean Vehicles Credit."
In general, both codes refer a sale of motor vehicle by a qualified dealer/car dealership to an individual buyer. There are specific rules and reporting requirement. I do not see any provision regarding home conversion by using an electric engine kit to a currently owned gas car.
Thank you and hope the above helps.
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