Multiple Federal Tax Credits

[2and4EVWheels]

Hello. Does anyone know if I can get multiple federal tax credits for EVs in the same year? Or even in consecutive years? I’ve been trying to find a definitive answer but can’t find anything. I read the official IRS docs and it doesn’t seem to stipulate.

Thanks!

 

[ucmndd]

Yes, there is no limit provided you have the tax liability to offset.

 

[ThaiBruin]

What about the California rebate? Is that limited to one per year, or one forever?

 

[Hiline]

What about the California rebate? Is that limited to one per year, or one forever?

One unless you got your first before something like 2019.

 

[murphpl]

Hello. Does anyone know if I can get multiple federal tax credits for EVs in the same year? Or even in consecutive years? I’ve been trying to find a definitive answer but can’t find anything. I read the official IRS docs and it doesn’t seem to stipulate.

as the previous responder said, you can get multiple rebates if you have enough tax liability to use them BUT you must still have total AGI (adjusted gross income on tax return) under certain limits ($150k single, $300k married filing joint, etc) which could be a problem for some folks.

 

[2and4EVWheels]

Yeah the only reason I am considering is because I was out of work for part of last year during a move so we qualify this year but likely not next year. I sold my F-Type R for an M3P because of the $7500 fed and $2000 CO credits I could upgrade suspension, brakes, wheels and tires within the F-Type funds. My Bolt EV lease is up in February, so it’s either buy the Bolt for the $21k residual or potentially an AWD M3.

Thanks for the confirmation everyone!