$4K
per applicant
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
A federal tax credit of up to $4,000 (30% of sale price, whichever is less) for purchasing a used qualifying battery electric, fuel cell, or plug-in hybrid vehicle from a licensed dealer. The vehicle must be at least 2 model years old, priced at $25,000 or less, and meet specific income limits. Buyers may transfer the credit to the dealer for an immediate purchase discount beginning in 2024.
Do I qualify?
Answer the questions below to get an instant self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Vehicle must be at least 2 model years old and priced at $25,000 or less
2.Must be purchased from a licensed dealer (not private party)
3.Income limits: $150,000 MFJ / $112,500 HOH / $75,000 single (MAGI)
4.Buyer must not have claimed this credit in the prior 3 years
5.Vehicle must be battery electric, fuel cell, or plug-in hybrid
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