EV Tax Credit Question : r/personalfinance - Reddit

I’m trying to figure out this tax credit to see if getting an EV is worth it and if I can claim the $7,500 credit. The vehicle I’m looking at meets all the requirements for the $7,500 credit and my …

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EV Tax Credit Question : R/personalfinance - Reddit

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EV Tax Credit Question : R/personalfinance - Reddit

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I am trying to figure out if I would qualify for the $7500 EV tax credit. My spouse and I are looking to buy an electric SUV in mid 2023. I. 2022 my income >$150K but my spouses is right around …

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EV Tax Credit Question : R/personalfinance - Reddit

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A tax credit simply reduces your tax liability. How you make use of this is up to you. Let's say your tax liability before tax credit is $10,000 in 2023. This is purely based on income and filing …

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How To Claim EV Tax Credit - What Proof Does The IRS Need From Me?

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Jan 14, 2024 · I just purchased a new 2023 Pacifica Hybrid PHEV. It is eligible for the full $7500 tax credit. But the IRS website says the following: "Sellers...

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Requesting Feedback On Leasing EV/PHEV For Tax Credit

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Jul 13, 2018 · This dealer will pass the tax credit on to customers, but the current lease terms appear to take it all back through higher finance charges. Rough Numbers Cost: $47,000 …

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Federal EV Tax Credit Question : R/personalfinance - Reddit

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So I purchased an EV which qualified for a $3,750 federal tax credit. Normally when I do my taxes I get roughly $2k. Filing most of my big items in TurboTax, including the tax credit, I am …

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Does Anyone Ever Get The Value That Kellys Blue Book Says ... - Reddit

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Zero market adjustment, I paid MSRP. Let's be real, I had no leverage to get any dealer below MSRP on a subsidized electric car. The car was on the market in many places at 15% over …

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Was Solar Worth It? : R/solar - Reddit

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For me the question of "was it worth it" is probably different from other people. In SW Michigan, you cannot get full net metering, so I only get about a 50% credit for the energy I give back. …

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FAQs about EV Tax Credit Question : r/personalfinance - Reddit Coupon?

Can I get a tax credit for a new EV?

Find information on credits for used clean vehicles, qualified commercial clean vehicles and new plug-in EVs purchased before 2023. You may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCV). ...

Can a taxpayer claim a commercial clean vehicle credit?

Whether a taxpayer can claim the qualified commercial clean vehicle credit in its business depends on who is the owner of the vehicle for federal income tax purposes. The owner of the vehicle is determined based on whether the lease is respected as a lease or recharacterized as a sale for federal income tax purposes. A6. ...

Can a leasing company buy a Kia EV6?

Right now, it appears a leasing company can buy an electric car, lease it to an individual, and avoid most if not all those annoying place of final assembly and sourcing rules for battery materials and components. In theory, a Kia EV6 that is eligible for no tax incentive if someone buys it outright is eligible for the full credit if it is leased. ...

How do I get a car tax credit?

Finally, the car must be purchased from a licensed dealer. The buyer must file the same Form 8936 when filing a tax return, and the dealer is obligated to provide the buyer with a written statement attesting to the VIN and other details necessary to identify the car as an eligible vehicle for the tax credit at the time of purchase. ...

Is the Kia EV6 a good car?

1: Kia EV6: 9.5/10 This could basically be a copy of my Ioniq 5 review; fun to drive, all the benefits of that 800v charging, but it fixed two of my issues: First: The massive, ridiculous bezels around the display are black, so you don't really notice them Second: I can comfortably set the steering wheel to not obscure my view of the dash. ...