Clean Vehicle Tax Credits
Save money on the cost of an energy-efficient vehicle with a tax credit from the federal government.
Rebate Overview
Overview
As a homeowner, you can benefit from the Clean Vehicle Tax Credit, a tax credit designed to make clean vehicles more affordable. This credit offers savings ranging from $3,750 to $7,500, depending on the vehicle's qualifications. To qualify, the vehicle must meet specific criteria, including battery capacity and final assembly location. Additionally, your modified adjusted gross income must not exceed certain limits, such as $300,000 for married couples filing jointly. For detailed information on eligibility and how to claim the credit, refer to IRS guidelines.
Benefits
Upgrading to a clean vehicle can enhance your home's comfort and safety while reducing your carbon footprint. By choosing an electric vehicle, you contribute to cleaner air and a healthier environment. Plus, you can enjoy lower fueling and maintenance costs over time.
More Information
- To qualify for the full $7,500 credit, the vehicle must meet both critical mineral and battery component requirements. If it meets only one of these criteria, the credit amount is $3,750.
- The vehicle's manufacturer suggested retail price (MSRP) must not exceed $80,000 for vans, sport utility vehicles, and pickup trucks, or $55,000 for other vehicles.
- To claim the credit, file Form 8936, Clean Vehicle Credit, with your tax return for the year in which you take delivery of the vehicle.
Details
- Expiration date: September 30, 2025
- Incentive type: Tax Credit
- Amount: $ 3,750
- Maximum Amount: $ 7,500
- Category: Vehicle
- Link: More details
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