To prove your eligibility for the used electric vehicle (EV) tax credit, you will need the following documents:
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Proof of Vehicle Purchase:
- A copy of the bill of sale or the purchase contract, which includes the date and price of the vehicle.
- This document must be furnished by the seller and include information about the vehicle’s qualifications for the credit.
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Vehicle Information Report:
- The seller must provide a report that includes:
- The vehicle’s VIN (Vehicle Identification Number).
- The date of sale.
- The sales price.
- Verification that the vehicle qualifies for the credit.
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Income Verification:
- Proof of your modified adjusted gross income (MAGI) for the year of purchase or the previous year, to ensure it does not exceed the eligibility thresholds:
- $75,000 for single filers.
- $112,500 for heads of households.
- $150,000 for married filing jointly or surviving spouses.
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Taxpayer Identity:
- Your taxpayer identification number, typically a Social Security number.
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Other Relevant Documents:
- Copy of your current DMV registration or Certificate of Title showing you as the owner.
- For state or local rebates, proof of residence might also be required.
Additionally, ensure that you meet all eligibility criteria, such as not being the original owner and not having claimed another used clean vehicle credit in the previous three years.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-documents-do-i-need-to-prove-my-eligibility-for-the-used-ev-tax-credit/
