Enter your Vehicle Sale Price, Vehicle Type, Income Eligibility, MSRP Cap, and Final Assembly Location into the EV/Hybrid Tax Credit Calculator to find your Federal Tax Credit, Eligibility Status, and how much that credit shaves off as a percentage of your purchase price.
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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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.
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.
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.
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.
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.
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.
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.
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.