Question

federal EV tax credit year of purchase and year of tax

Forum|Forum|6 years ago
January 21, 2020
1 reply
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Hi,

If I purchase a qualified EV (for tax credit) in 2020 (aka before 4/15/2020), can I claim/get the federal tax credit for 2019 tax year (aka before 4/15/2020)? or I have to claim the credit for 2020 tax year

Assumption, my tax is more than the EV credit.

Thanks!

B

BillM223

You can take the credit only in the year in which you buy the qualifying vehicle. So, tax year 2020 in your case.

Please note that the credit for some cars is starting to be phased out, so plan your purchase accordingly. Please see the instructions for the form 8936 (line 4b) for year 2018 at IRS Instructions for form 8936.

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