What other requirements must be met to qualify for the EV tax credit

To qualify for the electric vehicle (EV) tax credit, several requirements must be met beyond the basic eligibility criteria:

New Electric Vehicles:

Vehicle Use: The vehicle must be used primarily in the United States.
Purchase for Personal Use: The vehicle must be purchased for personal use and not for resale.
Manufacturer Registration: The seller must register the vehicle online and report the necessary information to the IRS. Failure to do so disqualifies the vehicle from the credit.
Battery and Sourcing Requirements: To receive the full credit of up to $7,500, the vehicle must meet both battery and sourcing requirements:
- Battery Requirement: A certain percentage of the vehicle’s battery must be assembled or manufactured in North America:
  - 2023: 50%,
  - 2024 and 2025: 60%,
  - 2026: 70%,
  - 2027: 80%,
  - 2028: 90%,
  - 2029-2032: 100%.
- Critical Minerals Requirement: A certain percentage of critical minerals in the car’s battery must be extracted or processed in the U.S. or in a country with a free-trade agreement with the U.S.:
  - 2023: 40%,
  - 2024: 50%,
  - 2025: 60%,
  - 2026: 70%,
  - 2027-2032: 80%.
Income Limits: The taxpayer’s modified adjusted gross income (AGI) must not exceed:
- $300,000 for married couples filing jointly,
- $225,000 for heads of households,
- $150,000 for all other filers. You can use your modified AGI from the year of purchase or the previous year, whichever is lower.

Used Electric Vehicles:

Sale Price: The vehicle must have a sale price of $25,000 or less.
Model Year: The vehicle’s model year must be at least two years earlier than the calendar year in which you purchase it.
No Previous Transfer: The vehicle must not have been transferred to a qualified buyer after August 16, 2022.
Dealer Purchase: The vehicle must be purchased from a licensed dealer.
Battery Capacity: The vehicle must have a battery capacity of at least 7 kilowatt hours.
Income Limits: The same income limits apply as for new vehicles, with an additional requirement that you can only claim this credit once every three years.
Reporting Requirements: The dealer must provide required information to you and report it to the IRS.

Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-other-requirements-must-be-met-to-qualify-for-the-ev-tax-credit/