Qualified NEW electric vehicles may be eligible for a tax credit of either $7,500 or $3,750 under Internal Revenue Code 30D.
EV Shopper Checklist
To simplify things for you, we created a checklist for EV shoppers who want to get the tax credit on a new EV at the time of the sale. Click on the image or button below to download the PDF.
2024 NEW Federal Tax Credit Checklist for EV Shoppers
New EV Tax Credit Requirements
Vehicle Eligibility
Vehicles must meet all of the following requirements:
1. The vehicle you purchase must be listed on this website: https://fueleconomy.gov/feg/tax2023.shtml
2. It must also meet the MSRP limit listed on website.
- $80,000 for SUVs, Pickup Trucks and Vans
- $55,000 for all other vehicles
Purchaser Eligibility
You must meet all of these requirements.
1. As the purchaser, you must meet income limits:
- $300,000 for joint filers,
- $225,000 for head of household, or
- $150,000 for single filers
Tip: Only one taxpayer can claim the tax credit, so if you file jointly, and one of you makes less than $150,000 a year, you may consider filing separately so that the taxpayer who earns less can claim the tax credit.
2. The NEW EV tax credit is transferable. This means you get the full amount of the tax credit up front at the time of sale. It also means you can get the full amount of the tax credit without owing taxes.
LEARN MORE ABOUT TRANSFERABLE EV TAX CREDITS
Other Requirements
To know for sure whether the vehicle you want is eligible for the tax credit, a dealer registered with the IRS must look up the vehicle VIN in its portal and confirm vehicle eligibility.
These other requirements must be met to receive the clean vehicle tax credit:
- Vehicle must be purchased for personal use, not for resale.
- Vehicle must be primarily used in the U.S.
- Vehicle must be new.
- Seller must report required information (your name, tax ID# and VIN) to you at the time of sale and to the IRS.
EVs That Qualify for the Clean Vehicle Tax Credit
The Department of Energy has created a list of qualifying vehicles with their MSRP caps. Please note this link is different from the used EV link.
