💡Buying a used electric vehicle or fuel cell vehicle for $25,000 or less can make you eligible for a clean vehicle tax credit.
🚗The tax credit is equal to 30% of the sales price, with a maximum of $4,000.
📝To qualify for the tax credit, the vehicle must be purchased for personal use and not for resale.
💰Income limitations apply for the tax credit.
🔋The vehicle must have a battery capacity of at least 7 kilowatt hours.
What is the maximum tax credit amount?
—The maximum tax credit amount is $4,000.
Can I qualify for the tax credit if I am the original owner of the vehicle?
—No, you cannot qualify for the tax credit if you are the original owner of the vehicle.
Can I claim the tax credit if someone else claims me as a dependent on their tax return?
—No, you cannot claim the tax credit if someone else claims you as a dependent on their tax return.
Can I claim the tax credit if I have claimed another clean vehicle credit in the past 3 years?
—No, you cannot claim the tax credit if you have claimed another clean vehicle credit in the past 3 years.
What are the qualifications for the vehicle to be eligible for the tax credit?
—The vehicle must have a battery capacity of at least 7 kilowatt hours, a gross vehicle weight rating of less than 14,000 pounds, and a sales price before credit of $25,000 or less.
00:00If you buy a used electric vehicle or fuel cell vehicle for $25,000 or less, you may be eligible for a clean vehicle tax credit.
00:11The tax credit is equal to 30% of the sales price, with a maximum of $4,000.
00:20To qualify for the tax credit, the vehicle must be purchased for personal use and not for resale.
00:37Income limitations apply for the tax credit.
00:42The vehicle must have a battery capacity of at least 7 kilowatt hours.
