To confirm if your vehicle qualifies for the clean vehicle tax credit, follow these key criteria:
Eligibility Requirements
- Final assembly in North America: The vehicle must undergo final manufacturing in North America.
- Weight limit: Gross vehicle weight rating (GVWR) under 14,000 pounds.
- Battery capacity: At least 7 kilowatt hours for plug-in electric vehicles (or be a fuel cell vehicle).
Battery and Mineral Restrictions
- 2024 rule: No battery components manufactured/assembled by a foreign entity of concern (e.g., certain Chinese companies).
- 2025 rule: No critical minerals in the battery extracted, processed, or recycled by such entities.
- Credit breakdown: $3,750 each for meeting critical mineral and battery component requirements.
Income Limits
Modified adjusted gross income must not exceed:
- $150,000 (single filers)
- $225,000 (head of household)
- $300,000 (married filing jointly).
Verification Tools
- Use the IRS’s VIN lookup tool (not explicitly mentioned in sources but widely recommended by tax authorities).
- Consult the Department of Energy’s eligible vehicle list.
- Review the IRS’s clean vehicle tax credit page for updates.
For exact qualification status, cross-check your vehicle’s VIN against official government resources and confirm with your dealer regarding battery sourcing details.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-i-confirm-if-my-vehicle-qualifies-for-the-clean-vehicle-credit/
