My tax bill from this year will be small. I just bought a qualifying EV, and I'd like to use as much of the $7500 tax credit as I can. Thanks!
August 11, 2023 3:43 PM
last updated August 11, 2023 3:43 PM
No, you can't.
Look at Line 22 on your tax return. The credit can be used to reduce this number by $7500 but it can not go below zero. Whatever can't be used is lost; it can not be used in a future year.
August 11, 2023 7:10 PM
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