Tesla Choices to Avoid Osborning from the Upcoming EV Tax Credit

[RubberToe]

Lol, chill dude. GM bought back my Bolt and I'm a Model 3 owner now for the past year. But that doesn't mean I'm drinking the Elon kool aid 24/7 like some of you guys.

Been chilling here all along. Somehow I though I put you on ignore back then, maybe you passed the TMC good character check?

Hopefully when you "saw the light" several years ago you bought 20,000 or 30,000 shares of Tesla like the rest of us did?

RT

 

[SoCalSteph]

It was my understanding that this $7500 tax credit is not a deduction, meaning you have to owe $7500 in taxes to get the full amount. So if you have a tax refund of $1000, you get none of the credit. If you owe $1000, you only get to use $1000 of the credit. I also hear you can get the full amount at time of purchase, so if I purchased in 2023, got the $7500 instantly, would that screw me the next year when I file my 2023 taxes (and don't owe anything)?

Does anyone understand the tax code enough to verify if this is true?

 

[SageBrush]

Does anyone understand the tax code enough

Yes

this is true

No

Please go to one of the many threads that have answered this question already. This thread is for a different topic