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Last updated 6 March 2024 A federal EV tax credit is here thanks to the Inflation Reduction Act IRA massive tax and climate legislation promoting clean energy The credit of up to 7 500
Customers are limited to two time of sale tax credits per year Tax Credit for Each Vehicle Model 3 Performance 7 500 Model X Dual Motor 7 500 2024 Model Y Rear Wheel Drive 7 500 Model Y Long Range 7 500 Model Y Performance 7 500 AGI Limitations 300 000 for married couples filing jointly 225 000 for heads of households
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Tesla s Genius Pricing Plan To Save You Thousands My Tech Methods
Tesla s Genius Pricing Plan To Save You Thousands My Tech Methods
Credits for new clean vehicles purchased in 2023 or after Internal Revenue Service If you place in service a new plug in electric vehicle EV or fuel cell vehicle FCV in 2023 or after you may qualify for a clean vehicle tax credit For more information on how to qualify see Publication 5866 New Clean Vehicle Tax Credit Checklist PDF
A Model 3 starts at 40 240 and the price may fall to 25 240 when the 7 500 federal tax credit and another 7 500 from the California tax rebate kick in depending on income and other
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NEW Tesla Tax Credits They Changed Everything YouTube
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Income limits Buyers will get zero credit if their modified adjusted gross income exceeds by even one dollar 150 000 for individuals or 300 000 for married couples said San
Other limitations apply such as an income limit of 135 000 for single filers and 200 000 for joint filers So low income buyers get increased rebates and high income buyers get no rebate
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Customers are limited to two time of sale tax credits per year Tax Credit for Each Vehicle Model 3 Performance 7 500 Model X Dual Motor 7 500 2024 Model Y Rear Wheel Drive 7 500 Model Y Long Range 7 500 Model Y Performance 7 500 AGI Limitations 300 000 for married couples filing jointly 225 000 for heads of households
https://www.irs.gov/newsroom/topic-b-frequently...
Q1 Could my income level prevent me from taking the New Clean Vehicle Credit updated Oct 6 2023 A1 Yes You may not claim the credit if your modified adjusted gross income AGI exceeds certain thresholds
Customers are limited to two time of sale tax credits per year Tax Credit for Each Vehicle Model 3 Performance 7 500 Model X Dual Motor 7 500 2024 Model Y Rear Wheel Drive 7 500 Model Y Long Range 7 500 Model Y Performance 7 500 AGI Limitations 300 000 for married couples filing jointly 225 000 for heads of households
Q1 Could my income level prevent me from taking the New Clean Vehicle Credit updated Oct 6 2023 A1 Yes You may not claim the credit if your modified adjusted gross income AGI exceeds certain thresholds
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