2022Tax credit

[Happy]

I am wondering if anyone who purchased a 2022 Mach E has verified the $7500 tax credit.

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[generaltso]

Verified with who? If you purchased before the end of 2022, it qualifies for the $7500 tax credit as long as you have enough federal tax liability.

 

[Maquis]

To add….the purchase must be completed in 2022, the model year is irrelevant.

 

[Happy]

Thanks for the update. I was just checking to make sure nothing changed as far as the tax credit.

 

[luckie]

I am wondering if anyone who purchased a 2022 Mach E has verified the $7500 tax credit.

I believe this is the historical gov website that helps assure buyers their vehicle qualifies for the EV tax credit. You know all this but I'll say it anyway. While new language was added to the EV tax credit in August of 2022 (via the Inflation Reduction Act), if you purchased and "put into service" a new car during 2022, generally the only change that impacts purchases after that date is "assembled in North America".

https://www.fueleconomy.gov/feg/taxevb.shtml

 

[Swanlee]

I bought a used 2021 Mach e in Nov of 22. Would it qualify for the used EV tax credit?

 

[Happy]

Thanks for the great information. I doubt if you it a used Mach e you get a tax credit because the original owner will take it.

 

[Ghost Ryder]

I bought a used 2021 Mach e in Nov of 22. Would it qualify for the used EV tax credit?

No, does not apply to used cars.

 

[Maquis]

I bought a used 2021 Mach e in Nov of 22. Would it qualify for the used EV tax credit?

No, does not apply to used cars.

The IRA does include a tax credit for the purchase of a used EV, but that didn’t go into effect until 2023.

 

[Ghost Ryder]

The IRA does include a tax credit for the purchase of a used EV, but that didn’t go into effect until 2023.

It think the max price of car to qualify is 25k, so not many cars would qualify.

 

[Maquis]

It think the max price of car to qualify is 25k, so not many cars would qualify.

Not Mach-Es, for sure. But don't forget about all the Bolts, Konas, etc. out there.

 

[vortix]

Best to go straight to the source for these questions:
https://www.irs.gov/credits-deductions/credits-for-new-electric-vehicles-purchased-in-2022-or-before

 

[RickMachE]

The IRA does include a tax credit for the purchase of a used EV, but that didn’t go into effect until 2023.

It think the max price of car to qualify is 25k, so not many cars would qualify.

As stated, $25,000 or less, and it MUST be sold by a used car dealer. Private sales aren't eligible.

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