Wednesday, February 1, 2023

Rules to Get Credits for New Clean Vehicles Purchased in 2023 or After

Title: Credits for New Clean Vehicles Purchased in 2023 or After

Article Snip: "...You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in 1 of the two years, you can claim the credit. The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years. ...You will need to provide your vehicle's VIN."

Reference: www.irs.gov
EV tax break rules,


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