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I
ianwk92-gmail-co
April 17, 2023
Question

Can you get an EV Tax Credit for a lease on a 2023 Tesla Model 3

  • April 17, 2023
  • 1 reply
  • 0 views
If so, how do I go about claiming or filing this on TurboTax?

1 reply

JohnB5677
JohnB5677
April 17, 2023

The IRS has given automakers and EV shoppers who prefer to lease a way to circumvent the new North American assembly requirement for a $7,500 federal tax credit for EVs and other clean cars.

 

On January 1, 2023, the Inflation Reduction Act of 2022 qualified certain electric vehicles (EVs) for a tax credit of up to $7,500. Based on new IRS guidance, the $7,500 credit will be reduced for Model 3 Rear-Wheel Drive on April 18 to $3,750.

Federal Tax Incentives

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I
ianwk92-gmail-coAuthor
April 17, 2023

If I got the car Jan 2023, does it count towards this years taxes or next?

KrisD15
KrisD15
April 17, 2023

A leased vehicle MIGHT get a credit, but it is not the same as PURCHSING an electric vehicle. 

The credit is given to the "owner/dealership" and hopefully passed down to the person that takes the lease. 

 

A credit for a leased EV is not taken on a tax return. 

 

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