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Considering some used Bolts and I want to be prepared. If I purchase one that should qualify me for the $4000 credit, is there a specific form the Dealer needs to give me and/or give the IRS? The one dealer I just talked to said he knew nothing of a credit or form, so I may have some trouble with this.
 

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Considering some used Bolts and I want to be prepared. If I purchase one that should qualify me for the $4000 credit, is there a specific form the Dealer needs to give me and/or give the IRS? The one dealer I just talked to said he knew nothing of a credit or form, so I may have some trouble with this.
I believe used EV credit is starting for the year 2024. Someone reading this correct me if I am wrong.
 

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Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit (also referred to as a previously owned clean vehicle credit). The credit equals 30% percent of the sale price up to a maximum credit of $4,000.

The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.

Purchases made before 2023 don't qualify.
 

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Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit (also referred to as a previously owned clean vehicle credit). The credit equals 30% percent of the sale price up to a maximum credit of $4,000.

The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.

Purchases made before 2023 don't qualify.
And I believe the income limit is much lower than the new vehicle credit.
 

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And I believe the income limit is much lower than the new vehicle credit.
If you bothered to click on the link all the information is there…
“To qualify, you must:

  • Be an individual who bought the vehicle for use and not for resale
  • Not be the original owner
  • Not be claimed as a dependent on another person’s tax return
  • Not have claimed another used clean vehicle credit in the 3 years before the purchase date
In addition, your modified adjusted gross income (AGI) may not exceed:

  • $150,000 for married filing jointly or a surviving spouse
  • $112,500 for heads of households
  • $75,000 for all other filers
You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your income is below the threshold for 1 of the two years, you can claim the credit.”
 
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