Tax Credit Calculator (EV/Hybrid)

The U.S. federal government offers tax credits of up to $7,500 on qualifying electric and plug-in hybrid vehicles — but eligibility depends on your income, the vehicle's price, and where it was assembled. Enter your Vehicle Sale Price, select your Vehicle Type (new or used BEV, PHEV, or FCEV), and confirm your Income Eligibility, Vehicle MSRP Cap, and Final Assembly Location to see your Federal Tax Credit, eligibility status, and credit as a percentage of the purchase price.

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Enter the total sale price of the vehicle

Income limits apply for tax credit eligibility

MSRP caps: $55k for cars, $80k for SUVs/trucks/vans

Vehicle must be assembled in North America

Results

Federal Tax Credit

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Maximum Possible Credit

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Eligibility Status

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Credit as % of Price

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Frequently Asked Questions

What is the maximum federal tax credit for electric vehicles?

New electric vehicles can qualify for up to $7,500 in federal tax credits, while used clean vehicles are eligible for up to $4,000. The exact amount depends on battery capacity, vehicle type, and other eligibility requirements.

Are there income limits for EV tax credits?

Yes, there are income caps for eligibility. Single filers must have AGI under $150,000, joint filers under $300,000, and heads of household under $225,000 to qualify for the credits.

What are the MSRP caps for eligible vehicles?

To qualify for tax credits, cars and sedans must have an MSRP of $55,000 or less, while SUVs, vans, and pickup trucks must be $80,000 or less.

Can I get tax credits for used electric vehicles?

Yes, used clean vehicles purchased from dealers may qualify for up to $4,000 in federal tax credits. The credit equals 30% of the sale price, and the vehicle must cost $25,000 or less and be at least 2 model years old.

What assembly requirements exist for tax credit eligibility?

Eligible vehicles must undergo final assembly in North America. Additionally, there are requirements for battery components and critical minerals to be sourced from approved countries and suppliers.

How do I claim the EV tax credit?

You can claim the credit when filing your tax return using IRS Form 8936, or transfer the credit to the dealer at the point of sale for an immediate discount on your purchase price.

Are plug-in hybrids eligible for tax credits?

Yes, new plug-in hybrid vehicles can qualify for federal tax credits ranging from $2,500 to $7,500, depending on their battery capacity. They must meet the same assembly, income, and MSRP requirements as all-electric vehicles.

When do the current EV tax credits expire?

The current clean vehicle tax credits are available for vehicles acquired through September 30, 2025. Vehicles must be placed in service by this date unless acquired under a binding contract before the deadline.