The income limits for the Electric Vehicle (EV) tax credit vary based on your filing status. For new EVs, if your Modified Adjusted Gross Income (MAGI) exceeds the following thresholds, you are not eligible for the tax credit:
- Single filers: Over $150,000
- Married couples filing jointly: Over $300,000
- Head of household: Over $225,000
- All other filers: Over $150,000
For used EVs, the income limits are half of those for new vehicles:
- Single filers: Over $75,000
- Head of household: Over $112,500
- Married couples filing jointly: Over $150,000
You can use your MAGI from either the year you take delivery of the EV or the previous year for eligibility purposes.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-are-the-income-limits-for-the-ev-tax-credit/
