When leasing an electric vehicle (EV), there are no income limits that directly affect your eligibility for the EV lease tax credit. This is because the tax credit under leasing arrangements typically belongs to the lessor (the leasing company or dealer), not the lessee (the person leasing the vehicle). Therefore, your personal income does not impact whether the EV qualifies for the credit. Instead, any savings from the tax credit might be passed on to you through reduced lease payments or rebates if the dealer chooses to do so.
If you were to purchase an EV, however, there are income limits that apply:
- Single Filers: $150,000
- Married Couples Filing Jointly: $300,000
- Head of Household: $225,000
- All Other Filers: $150,000
You would not qualify for the EV tax credit if your modified adjusted gross income (MAGI) exceeds these limits.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-income-limits-that-affect-my-eligibility-for-the-ev-lease-tax-credit/
