Tesla Tax Credit 2024 Reddit Basically for 2024 there will be a new program where buyers can get the tax credit amount at the point of sale say 7 500 AND if the buyer s tax liability at the end of the year ends up being less than 7 500 the buyer does not need to pay back the difference
The US department treasury mentions that starting Jan 1st Clean Vehicle Tax Credits may be initiated and approved at the point of sale But today I was informed by Tesla that POS rebate is not possible You need to report it when you file your taxes to close the loop on the deal Otherwise unscrupulous dealers could claim credits against non purchasers Plus that s how the recapture would be handled if the income limit was also exceeded in the year of purchase
Tesla Tax Credit 2024 Reddit
Tesla Tax Credit 2024 Reddit
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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 Basically starting next year your tax liability no longer matters The only thing that matters is the income limits You ll get the full credit off the purchase price depending on make model msrp etc as long as your income is below the published threshold
Tesla is not currently offering the POS credit And a lot of dealers report that the IRS system doesn t actually work so they can t either At least As part of the 2023 Inflation Reduction Act eligible businesses and tax exempt organizations can claim up to a 7 500 credit when purchasing new Tesla vehicles with a gross vehicle weight rating GVWR of up to 14 000 pounds
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So 2024 brings two things to make these credits better The tax credit is now a Point of Sale credit if you buy from a dealer that participates The dealer takes the 4 000 or 30 whichever is less off the price of the car and gets reimbursed by the IRS As of today all versions of the Tesla Model 3 and Tesla Model Y qualify for the 7 500 federal tax credit under the Inflation Reduction Act of 2022 IRA The Model S and Model X are not
The EV tax credit is a federal tax incentive for taxpayers looking to go green on the road Here are the rules income limit qualifications and how to claim the credit in 2024 The 2024 tax credit offers a nonrefundable benefit to buyers of used EVs including Tesla models Here s what you need to know about eligibility Income Limits Buyers must have a modified adjusted gross income AGI below certain thresholds 75 000 if single 150 000 if filing jointly and 112 500 if you re the head of household
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https://www.reddit.com/r/TeslaModelY/comments/18uh...
Basically for 2024 there will be a new program where buyers can get the tax credit amount at the point of sale say 7 500 AND if the buyer s tax liability at the end of the year ends up being less than 7 500 the buyer does not need to pay back the difference
https://www.reddit.com/r/TeslaModelY/comments/18ri...
The US department treasury mentions that starting Jan 1st Clean Vehicle Tax Credits may be initiated and approved at the point of sale But today I was informed by Tesla that POS rebate is not possible
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Tesla Tax Credit 2024 Reddit - Does Tesla expect its cars or perhaps some of its cars will lose the full tax credit because they meet the 40 and 50 requirements but won t meet the 50 and 60 requirements It seems like
