Pacun Posted February 15, 2023 Report Share Posted February 15, 2023 I have not done any research... does any one know if a 2022 Chevrolet Volt gets any "electric" credit on 1040/W2 filing? Quote Link to comment Share on other sites More sharing options...
Lee B Posted February 15, 2023 Report Share Posted February 15, 2023 https://www.irs.gov/credits-deductions/credits-for-new-electric-vehicles-purchased-in-2022-or-before 1 Quote Link to comment Share on other sites More sharing options...
Pacun Posted February 16, 2023 Author Report Share Posted February 16, 2023 So based on that link... the sales people know that Chevrolet/General Motors doesn't qualify for the credit since a couple of years ago and yet they tell people that their tax preparer will get them a credit. Am I reading it right? Quote Link to comment Share on other sites More sharing options...
Sara EA Posted February 17, 2023 Report Share Posted February 17, 2023 Just like all the sales people who entice people about the tax credits for solar panels. Nice credit if you buy them; not eligible if you lease them like many people do. Quote Link to comment Share on other sites More sharing options...
Medlin Software, Dennis Posted February 17, 2023 Report Share Posted February 17, 2023 I think GM had met the volume restrictions and was ineligible. Jan 1, 2023 the volume restriction went away. Currently, we are in a time/loophole window while the battery restrictions are being developed and published Written as I smile while waiting to pickup our new Tesla. The 9500 total (fed and state) credit /rebate was too much to ignore. Quote Link to comment Share on other sites More sharing options...
Pacun Posted February 18, 2023 Author Report Share Posted February 18, 2023 "Jan 1, 2023 the volume restriction went away" So, if someone purchased a car Dec 31, 2022, no credit but if someone purchased it a day later, s/he will be the credit? Quote Link to comment Share on other sites More sharing options...
Medlin Software, Dennis Posted February 18, 2023 Report Share Posted February 18, 2023 Correct, depending on the vehicle. The unknown is when the battery spec restrictions will start. 1 Quote Link to comment Share on other sites More sharing options...
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