Home » Credits for New Electric Vehicles Purchased in 2022 or Before
January 2, 2023
tjohnson

Credits for New Electric Vehicles Purchased in 2022 or Before

If you bought a new, qualified plug-in electric vehicle (EV) in 2022 or before, you may be eligible for a clean vehicle tax credit up to $7,500 under Internal Revenue Code Section 30D.

The credit equals:

  • $2,917 for a vehicle with a battery capacity of at least 5 kilowatt hours (kWh)
  • Plus $417 for each kWh of capacity over 5 kWh

The maximum credit is $7,500. It 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.

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