Electric Vehicles

Tax credits up to $7,500 are available for eligible new electric vehicles and up to $4,000 for eligible used electric vehicles. You can claim the credit yourself or work with your dealership. Make sure you meet the requirements below.

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How to claim your tax credit

Purchase your vehicle

And make sure all of the requirements set by the IRS are met. See below.

File yourself, or work with the dealership

Most dealerships will take care of the tax credit during the purchasing process. If not, you can submit IRS Form 8936 when filing your taxes.

Receive your tax credit.

The same day from the car dealership, or when you get your tax return.

First, make sure you meet the requirement set by the IRS

The IRS has set a handful of requirements a person must meet to qualify for the electric vehicle tax credit, including income, etc. Click the links below to review the requirements.

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Next, make sure your vehicle is eligible for a tax credit.

This depends on several factors such as the vehicle’s MSRP (price), its final assembly location, battery components, and more. Check the links below to see the new and used vehicles that are currently eligible for a tax credit.

 

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Home Charger Incentives

If you are upgrading to an electric vehicle, you should consider buying a home charger, improving your charging outlet, and/or upgrading your electrical panel to facilitate faster charging. You may be able to claim a tax credit up to $1,000 on all of these, too. Find out if your home is in an eligible location: 

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How much can you save on gas?

Use the Driving Electric Local Fuel Savings Calculator below to compare the cost of driving a battery electric vehicle (BEV) or a plug-in hybrid electric vehicle (PHEV) to a conventional vehicle where you live.

 

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Electric vehicles purchased in 2022 or before are still eligible for tax credits

If you bought a new, qualified plug-in electric vehicle in 2022 or before, you may be eligible for a clean vehicle tax credit up to $7,500.

 

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Have more questions?