Do You Qualify for The Clean Vehicle Credit? Part 1

Did you purchase an all-electric, plug-in hybrid electric, or a hydrogen fuel cell vehicle this past year? If yes, you may qualify for the Clean Vehicle Credit. To receive credit for your clean vehicle on your 2023 tax return, you must meet a set of requirements set by the Internal Revenue Service (IRS).

The vehicle must be new, purchased for your own use, not for resale, and it must be used primarily in the United States of America.

There are also requirements based on your modified adjusted gross income (AGI). The IRS has created requirements based on your filing status as single, married, or head of household.

If you meet all these requirements, congratulations! You have taken the first step in determining if you qualify! The next step is determining if the Clean Vehicle Credit applies to the vehicle you bought. Be sure to read the follow-up article to learn more about qualifying for the Clean Vehicle Credit.

AnneShade Associates, LLC is an expert on this subject and can help you determine whether or not you qualify for the Clean Vehicle Credit this year. Call us today to schedule an appointment!