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mym
Level 1

EV Credit - $55K

I purchased a Tesla Model 3 and added the color for $2,000 additional. My total price before taxes and fees was $55,990. Because I added the color this took me above the $55k. Is there any way I can still receive the credit? 

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3 Replies
MayaD
Employee Tax Expert

EV Credit - $55K

To qualify, the vehicle's manufacturer suggested retail price (MSRP) can't exceed: $55,000 

 

MSRP is the retail price, including installed options, accessories and trim but excluding destination fees. 

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mym
Level 1

EV Credit - $55K

So there is absolutely no loophole to this? 

MayaD
Employee Tax Expert

EV Credit - $55K

Unfortunately no. At the time of sale, the seller gives you information about your vehicle's qualifications. They also register online and report the same information to the IRS.

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