Federal Tax Refund and Electric Vehicle Fedeeral Tax Credit

[frankiejane]

1. I got a federal tax refund last year for the first time in forever. Do I have to report this refund on this year's taxes?

2. I bought an electric vehicle this year when the federal tax credit was still in effect, do I get to claim the total $7,500 or did the new rules somehow change that?

[DoninGA · Accepted solution]

A federal tax refund is not reported on a federal tax return.

For the EV credit -

If you entered a written binding contract to buy a vehicle before August 16, 2022, but took possession on or after August 16, 2022, and before January 1, 2023, you may claim the credit based on the prior rules and disregard the assembly requirement.

For an energy-efficient vehicle tax credit

• Click on Federal Taxes (Personal using Home & Business)
• Click on Deductions and Credits
• Click on I'll choose what I work on (if shown)
• Scroll down to Cars and Other Things You Own
• On Energy-Efficient Vehicles, click the start or update button

Or enter energy efficient vehicle in the Search box located in the upper right of the program screen. Click on Jump to energy efficient vehicle

[frankiejane]

Thank you … very helpful.