EV Tax Credit for the Gifted Car

Gemini12345 · ‎January 31, 2023

I bought a EV Car in 2023 and after using for few months in year 2023 I wanted to gift the car to a relative, can I still claim the tax credit when I file taxes in April 2024?

MinhT1 · ‎January 31, 2023

You can still claim the Clean Vehicle credit in 2023 even if you plan to gift the vehicle in 2024.

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Vanessa A · ‎January 31, 2023

No, a gift is not considered a resale. A resale would be buying it with the intention of selling it.

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View solution in original post

MinhT1 · ‎January 31, 2023

You can still claim the Clean Vehicle credit in 2023 even if you plan to gift the vehicle in 2024.

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Gemini12345 · ‎January 31, 2023

I want to gift the car in year 2023 the same year I bought the car. Is there any time limit on when I can gift in year 2023?

One of the clause says not for resale, gift is considered as resale? I want to make sure not violating any clause.

Buy it for your own use, not for resale

Vanessa A · ‎January 31, 2023

No, a gift is not considered a resale. A resale would be buying it with the intention of selling it.

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EV Tax Credit for the Gifted Car