- First Name
- Feb 8, 2020
- Reaction score
- First Name
- Kona EV, 2002 Mustang GT, Former CMax Energi
I prefer to make choices based on complete and accurate information where possible. If people are making decisions based on incomplete or inaccurate information, then I feel sad for them, particularly if they are spreading that same bad information on this forum and causing other people to make poorly informed decisions. "But technically you don't claim it on your tax return until the next year." I do not agree with this statement or its implied conclusion. Just because a form is not submitted does not make the information that will go on the form less valid. Technically, the "claim" occurs when I take delivery of my vehicle, not when I submit a form a year or more later. There is one potential event that could reduce the immediate benefit of the $7500 tax credit: a loss of income that puts your tax liability below $7500 for 2021. For some people that is a real concern. If they don't use the full $7500 to reduce their Federal Taxes to $0 for 2021, they will roll over the remainder to 2022. I apologize for being OT, but I am not the one who put incorrect information into this thread. Is there a thread that deals with the Federal Tax Credit? I will go look for it now.Sure you can adjust it. But technically you don't claim it on your tax return until the next year. And like they say "its not done till the fat lady sings". The tax rules can can, shit happens, gov runs out of money... Some people feels comfortable doing it while others not. Nothing wrong with them having concerns.