Question

I have a question about the electric vehicle tax credit. Does my vehicle qualify for the plug-in electric car tax credit?

Answer

The electric car tax credit is available when you buy a qualifying vehicle.

To qualify for the electric vehicle tax credit, a vehicle must:

  • Be a new vehicle with at least four wheels, as compared to the two-wheeled electric vehicle tax credit
  • Have a gross vehicle weight of less than 14,000 pounds
  • Be propelled mostly by an electric motor that draws electricity from a battery that:
    • Has a capacity of not less than four kilowatt hours
    • Be capable of being recharged from an external source of electricity
  • Be certified as qualifying for the electric car tax credit

You also must meet these conditions to qualify for the electric vehicle tax credit:

  • You own the vehicle.
  • You placed it in service in the current tax year.
  • The original use of the vehicle began with you.

The two-wheeled or 3-wheeled Plug-In Electric Drive Vehicle tax credit is available if the vehicle:

  • Is a new vehicle with two or three wheels.
  • Is capable of achieving a speed of 45 mph or greater.
  • Is propelled to a significant extent by an electric motor
  • The motor draws electricity from a battery having a capacity of at least 2.5 Kilowatt hours.
  • Is capable of being charged from an external source of electricity
  • Has a gross vehicle weight of less than 14,000 pounds.
  • The two-wheeled electric vehicle must also meet the additional conditions mentioned directly above.

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