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Income limits: There are income limits for both new and used EV tax credits. For new EVs, your AGI must be below $300,000 for married filing jointly, $225,000 for head of household and $150,000 ...
The U.S. Treasury Department on Friday issued new guidance on how a $7,500 electric vehicle tax credit can be used as a point-of-sale rebate starting in January. Currently, consumers can only take ...
The Internal Revenue Service updated the rules for electric vehicle tax credits again starting with the first day of 2024. ... and even fewer are eligible for the maximum $7,500 credit. But there ...
In 2024, several EVs are eligible for the federal government's tax credit program, which can reduce what you owe the IRS by up to $7500 for a single tax year.
Federal and state tax credits can give you money back for buying an electric car. ... Dealers are taking advantage of a leasing loophole to apply the $7,500 credit to more EVs. ... Your income can ...
Of course, the 2024 Blazer EV can also be had with a $7500 discount, because it's eligible for the full federal tax credit. Chevrolet 2024 Chevrolet Equinox EV ($7500)
There also are income limits for buyers set up to stop wealthier people from getting the credits. Buyers cannot have an adjusted gross annual income above $150,000 if single, $300,000 if filing ...
Married couples won’t qualify for the new-vehicle credit if their modified adjusted gross income (MAGI) on a joint tax return exceeds $300,000. For single tax filers, the AGI limit is $150,000.