Generally, you cannot claim a tax credit for a used EV if you bought it from a private seller. The used EV tax credit typically requires the purchase to be made from a licensed dealership. However, there are services like KeySavvy that act as intermediaries by selling vehicles to you from a licensed dealership, potentially allowing you to qualify for the credit even in a private party sale scenario. To qualify, you must meet additional requirements such as income limits and not being the original owner.
Here are the main points to consider:
- Purchase from a Licensed Dealer: You must buy the used EV from a licensed dealer to qualify for the credit.
- KeySavvy Option: If using a service like KeySavvy, you might still qualify by effectively buying through a dealership.
- Eligibility Requirements: Your modified adjusted gross income must be below the specified thresholds, and you cannot be the original owner or have claimed another used clean vehicle credit in the past three years.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-i-claim-a-tax-credit-for-a-used-ev-if-i-bought-it-from-a-private-seller/
