Ammending taxes to receive Federal and State EV credit

[CesarG]

Just got my MME last week. Unfortunately I already did my taxes about a month and a half ago (which I'm now regretting).

Other than the fact of receiving the money sooner, does anyone know if there would be any benefit in ammending my 2021 taxes to claim the credits now as opposed to waiting until next year to file 2022 taxes?

As I understand, Federal and State (Colorado) EV credit eligibility is based on the number of cars sold by the manufacturer (ie. Ford) at your date of purchase and tax liability, not when you file the taxes. So supposing that the 200k quota is met later in the year I should still be fine. Do please correct me if I'm wrong.

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[generaltso]

You can’t do that. If you bought the car in 2022, the tax credit has to be claimed on your 2022 taxes.

 

[AKgrampy]

And yes the tax incentive applies as long as you purchase your car while the incentive is applicable. But no, as already mentioned, on re-filing.

 

[CesarG]

Got it, much appreciated!!

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