2019 Electric Vehicle Tax Credit Tesla

For tesla the phase out started on january 1 2019.

2019 electric vehicle tax credit tesla.

Charging customers who purchase qualified residential charging equipment between january 1 2018 and december 31 2020 may receive a tax credit of up to 1 000. Tesla cars are no longer eligible for the full incentive. Your credit will be 50 of 7500 or 3750. Vehicles delivered before june 30 2019 received a credit of 3 750 those delivered between july 1 2019 and.

Your timing is terrible. In july tesla hit their 200 000 the car delivered meaning that any tesla delivered in q3 or q4 the remainder of 2018 will be eligible to receive that 7 500 rebate. As you can see here only tesla and gm have sold enough plug in vehicles for the credits to start phasing out. Several states and local utilities offer additional electric vehicle and solar incentives for customers often taking the form of a rebate.

Today is july 1 and for tesla that means 1 875 less of a federal tax credit is available for buying an electric. Your credit will be 25 of 7500 or 1875. The federal electric car tax credit applies to both all electric vehicles and plug in hybrid vehicles and the actual amount you can claim varies based on car model. All electric and plug in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to 7 500.

If you got your car from 1 jul 2019 to 31 dec 2019. To anyone dreaming of buying a tesla electric vehicle. Has sold more than 200 000 vehicles eligible for the plug in electric drive motor vehicle credit during the third quarter of 2018 this triggers a phase out of the tax credit available for purchasers of new tesla plug in electric vehicles beginning jan. Ir 2018 252 december 14 2018.

Many are starting out with the wrong value and then discounting it to get less than the full tax credit. Washington the irs announced today that tesla inc. The problem is that tesla confirmed that by the end of 2018 they will have become the first manufacturer to lose its electric car tax credit. Federal tax credits for new all electric and plug in hybrid vehicles federal tax credit up to 7 500.

Tesla has actually hit their 200 000 are delivered in the us so this tax credit is going to begin to its phase out period. In 2018 2019 highest tax credit you could get was 3 750. The credit amount will vary based on the capacity of the battery used to power the vehicle.