New.

Purchased in or after 2010

Non-Refundable

Max Credit $7,500

Credit = $2,500 + 417 for first 5 kwh capacity + $417 for each kwh in excess of 5 up to $7,500

Requirements

• Must be new
• Must be for use or lease not for resale
• GVWR < 14,000
• Can be owned or leased
• Placed in Svc in the tax year
• Not less than 2.5 kwh battery
• Vehicle for on-the-road use

Credit qualifies on first 200,000 EVs produced by manufacturer

Basis is reduced by the amount of the credit taken

May be subject to credit recapture

Credit reduced by business use and section 179 deduction

Required info:

• Year, Make and Model
• VIN