Joint Filing ELectric Vehicle Credit

[N8moulton]

If I file a return jointly with my spouse, and each of us buys an electric vehicle in 2022, could we each take the EV credit? Or because we are filing on the same return would we only be able to take one credit for the two cars?

[DoninGA]

If you are the original owners of each EV vehicle you can claim the credit for both vehicles on your federal tax return.  However, once the tax credit reduces the the tax liability to zero on the tax return any remaining credit is lost and does not carryover to the next year's tax return.

[NCperson]

@N8moulton 

<<once the tax credit reduces the the tax liability to zero on the tax return any remaining credit is lost and does not carryover to the next year's tax return>>

What this means is that your tax liabiltiy on Line 18 of Form 1040 can not be reduced below zero.  The EV credit will appear on Line 20 of the same form.