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November 15, 2024
Question

I purchased a Chevy Bolt on 10/3/2022. When I filed my taxes, the $7500 tax credit was denied because more than 200,000 Bolts has been sold. Then the government opened Bolts back up for a $7500 tax deduction. Can I somehow get that credit? File an am

  • November 15, 2024
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    DoninGA
    Employee
    November 15, 2024

    The Inflation Reduction Act signed into law on August 16, 2022 eliminated the phaseout for vehicles made by manufacturers that have sold at least 200,000 vehicles and is effective for vehicles sold after December 31, 2022.  The law was not retroactive to any tax years prior to 2023.