EV credit when auto used personal and business

Technical topics regarding tax preparation.
#1
Posts:
637
Joined:
23-Apr-2014 12:01pm
Location:
san diego ca
Taxpayer purchased a Tesla for $54000 in 2022. It qualifies for the $7500 tax credit. He uses it 15% for business. So no Section 179. But how does the tax credit come into play as far as the business deduction goes? Can't find anything to explain. I'll keep looking, any help would be appreciated.
 

#2
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1716
Joined:
28-Jul-2017 12:08pm
Location:
Somewhere out there...
15% of the credit is business, 85% is personal. Still gets the full credit.
 

#3
Posts:
824
Joined:
28-Apr-2014 9:53am
Location:
Eastern United States
Are you sure the Tesla qualifies for a 2022 credit?

Did you check the list on the IRS site?
 

#4
Posts:
637
Joined:
23-Apr-2014 12:01pm
Location:
san diego ca
It looks like the Tesla Model 3 purchased 11/29/22 does NOT qualify for any of the credit, according to the IRS website.

If anyone disagrees, please let me know where you found your support. Thanks.
 


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