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April 20, 2020
Question

Electric vehicle credit

  • April 20, 2020
  • 1 reply
  • 0 views

Hello - I purchased a electric vehicle in 2017 and got the credit back as part of my taxes.  I purchased another electric vehicle in 2019, am I able to claim the credit again for the new electric vehicle or is it just a one life time credit?

    1 reply

    April 20, 2020

    You can claim the credit each time you purchase a new electric vehicle and place it in service.  There is not a lifetime limit for claiming the electric vehicle credit.  

     

     

    @hashu1

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    hashu1Author
    April 20, 2020

    Thank you so much.

     

    Since I am leasing the vehicle, my understanding is I cannot claim that credit then, correct?

    Employee
    April 20, 2020

    That's correct. Only the "owner" (the lessor in your case) can take the credit.