Selling Model X, Do I still qualify for the Tax Credit?

[KingGoopa]

For unforeseen circumstances, I will be selling my MX soon, but I have 1 question before I do.

Do I still qualify for the tax credit even if I sell the car before filing my taxes?

I bought the car June of 2018, and I haven't begun filing my taxes yet. I plan on doing so in April along with the 2019 Form 8936. BUT, do I still get the tax credit if I sell my car this month?

 

[paulk]

The form doesn’t ask whether you still own the car. You can sell it five minutes after you buy it and get the rebate.

 

[teethdood]

Agreed. Federal and state rebates are for new owners only to claim. The used car buyer cannot claim it, therefore in order to sell it you need to discount the rebates from the selling price. So say you bought it for $120K - $7500 federal - $2500 state - used car penalty = selling price.

 

[KingGoopa]

Agreed. Federal and state rebates are for new owners only to claim. The used car buyer cannot claim it, therefore in order to sell it you need to discount the rebates from the selling price. So say you bought it for $120K - $7500 federal - $2500 state - used car penalty = selling price.

Sorry, I'm not asking for how much I should price the car for, I'm asking if I can still claim the tax credit even after selling my car. But I understand from your statement that since I'm the new car buyer, I can claim it. Thank you.

 

[S4WRXTTCS]

You can claim it as long as you didn't buy the car to resell it.

You didn't so you can claim it.