Help With Used EV Rebate

[Joe Lowery]

I have owned a leaf for 9 years and am wanting to take advantage of the $4000 tax reduction on a used EV to upgrade. According to the IRS rules the dealer has to submit a notice of the sale to the IRS and provide me the buyer a notice of that but the Nissan Dealer I am buying it from does not have a clue to what I am talking about. Does anyone here have knowledge of what needs to be done?

Thanks in advance.

 

[Jim Matthews]

The rules will be promulgated no earlier than March 2023.
This might be a good time to make a value purchase, and process the credit later.

If you're hoping to apply this at the point of sale, the Dealer must lead.
(And they're not ready)

https://www.businessinsider.com/how-to-get-electric-vehicle-tax-credit-ira-biden-2022-12

 

[Almost Green]

I'll add that the way dealers have been acting regarding markups , they may try to do a markup once they find out about this and if it involves them actually doing anything. Just something to watch for.

 

[Mike the Car Geek]

The dealer does need to submit information to the IRS. I am not sure what that entails.
I tried to contact the IRS for my video below (see link) but as you ought guess, it is difficult especially with tax season upon us.

Be careful of what vehicle you buy. Some “obvious” candidates are not on the IRS list because of bureaucracy I guess.

Check out my video on this:

 

[Mike the Car Geek]

…and try talking to a larger dealer body (CarMax, Penske, etc) they may know better.