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We've gathered every new EV that's currently eligible to earn either the partial $3750 or the full $7500 federal tax credit.
You claim the credit using Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit, and submit it with your individual tax return. Beginning in 2024, buyers can transfer clean vehicle credits to qualified sellers at the time of sale and use the credit amount as a down payment or a reduction of the manufacturer's suggested retail price.
Those who buy new electric vehicles may be eligible for a tax credit of up to $7,500, and used electric car buyers may qualify for up to $4,000. New in 2024, consumers can also opt to transfer...
You may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCV). The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032.
A $7,500 tax credit for electric vehicles has seen substantial changes in 2024. It should be easier to get because it's now available as an instant rebate at dealerships, but fewer models qualify.
Federal tax credit for EVs will remain at $7,500. The timeline to qualify is extended a decade from January 2023 to December 2032. Tax credit cap for automakers after they hit 200,000 EVs sold...
Consumer Reports details the list of 2023 and 2024 model-year electric vehicles and plug-in hybrids that qualify for federal tax credits of up to $7,500 under the Inflation Reduction Act.