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Level 1

Solved

EV

2 replies
56 views

I am being told that the dealership is giving me an EV rebate when I lease a EV in the middle of November this year. I have read conflicting information on EV rebates being given this year. Does this rebate apply to this year or next year?

Ask the Experts - Extension - Sept 2023

KochuKAnswer

Alumni - Intuit

Hi tiapayne, thanks for posting an event question.

For leased vehicle, the eligible EV rebate belongs to the dealer (lessor). So any saving you receive in 2023 would be in the form of a rebate or reduced lease price from the dealer.

Starting 1/1/2024, for purchased EV, the federal EV tax credit will shift to a dealership rebate.

https://home.treasury.gov/news/press-releases/jy1783

Hope this clarifies. Thank you.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Level 15

The dealership may be reducing the purchase price of the vehicle to you for the EV credit but that does not mean you can claim the credit on your tax return.

When you lease the vehicle you are not the owner of the vehicle so you cannot claim the EV credit on your tax return. The lessor is the owner, not you.

KochuKAnswer

Alumni - Intuit

Hi tiapayne, thanks for posting an event question.

For leased vehicle, the eligible EV rebate belongs to the dealer (lessor). So any saving you receive in 2023 would be in the form of a rebate or reduced lease price from the dealer.

Starting 1/1/2024, for purchased EV, the federal EV tax credit will shift to a dealership rebate.

https://home.treasury.gov/news/press-releases/jy1783

Hope this clarifies. Thank you.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"