Proposed Legislation

[Quorn]

Looks like imported EV's will lose their $7500 rebate in 2023.
Not clear about the $4000 tax credit on resales?
Form 8911 for 30% rebate on charging station still OK I think.

 

[teslarati97]

The legislation has a new income cap of $150,000 for single filers and $300,000 for joint filers to claim the credit but it might be applied at the point of sale as a rebate. For used cars the income cap is $75,000 for single filers and $150,000 for joint. The 200,000 phase out limit would also be lifted.

There is also a price cap of $55,000 for new cars and $80,000 for SUVs & pickup trucks so the ultimate quad motor long range edition probably won't qualify but there will be a whole slew of cars available. I'm still not quite clear on the North America requirements for battery and critical minerals.

 

[insightman]

There's more discussion of the explicit implications of the new bill on theEV Tax credit and Tax Software thread.