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R
rosed07
May 25, 2023
Question

Can I claim the EV tax credit and section 179 (or bonus depreciation) on the same vehicle in the same year?

  • May 25, 2023
  • 1 reply
  • 0 views
Purchasing an electric vehicle over the 6,000 lbs GVWR limit to place in service for a small business.  Can I take both the 179 (or bonus depreciation) and EV tax credit for the same vehicle?  

1 reply

M
Mike9241
May 25, 2023

yes.  remember the ev credit reduces tax basis which will reduce the amount available for depreciation.

    A
    as744
    September 3, 2023

    As in the tax basis for the vehicle itself or like my total tax basis. 

    so if my car cost $50,000 do I have to depreciate as if it’s $42.5K

     

    or

     

    if I owe $10,000 of taxes I now have $2.5K left for my car depreciation?

     

     

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