EV Rebate question

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hotwheel

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Hey guys,
I am going tomorrow to purchase Honda Clarity plug-in hybrid. I just stumbled upon this forum. I have a quick question, do you know if I will quality for CA rebate and Fed tax credit if I happen to sell the car by end of this year and no longer have the CAR while filing taxes?

This is my first post, please be gentle with your response as my question may be naive.
 
Sale of car is irrelevant with respect to the federal rebate. Only purchase. So if you buy it, you qualify for the tax credit even if you no longer own it at the end of the year (be aware it is NOT a rebate...it's a non-refundable credit. Know your own tax circumstances...everyone's is different. The majority of Americans do NOT qualify for the full $7,500 credit because they don't pay that much in taxes each year...)

As for CA? I know nothing...I live in IN. Sorry. Happy car shopping!
 
craze1cars said:
Sale of car is irrelevant with respect to the federal rebate. Only purchase. So if you buy it, you qualify for the tax credit even if you no longer own it at the end of the year (be aware it is NOT a rebate...it's a non-refundable credit. Know your own tax circumstances...everyone's is different. The majority of Americans do NOT qualify for the full $7,500 credit because they don't pay that much in taxes each year...)

As for CA? I know nothing...I live in IN. Sorry. Happy car shopping!
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Thanks for clarifying. I am eligible for full $7500 credit but was worried about the the circumstances which may lead me to sell the car in a short notice. I think CA rebate will be a check to me so I might have to apply for that.
 
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