Electric Vehicle Tax Credit (30D)
Up to $7,500 tax credit for purchasing a new qualifying electric vehicle assembled in North America.
Estimate Your Savings
This is a simplified estimate. Actual savings depend on your complete tax situation.
Eligibility
Buyers of new qualifying electric vehicles
Requirements
- 1New qualifying EV
- 2MSRP under $55K cars / $80K trucks
- 3Income under $150K single / $300K married
Required Tax Forms
Understanding the Electric Vehicle Tax Credit (30D)
Up to $7,500 tax credit for purchasing a new qualifying electric vehicle assembled in North America.
Tax credits directly reduce the amount of tax you owe, making them more valuable than deductions which only reduce taxable income. The Electric Vehicle Tax Credit (30D) can reduce your tax liability by up to $7,500.
To claim this credit, you will need to file Form 8936 with your annual tax return. Make sure you meet all eligibility requirements and keep documentation of qualifying expenses or activities.
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Use our free tax calculators to estimate your total tax liability and savings.
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Frequently Asked Questions
What is the Electric Vehicle Tax Credit (30D)?
Up to $7,500 tax credit for purchasing a new qualifying electric vehicle assembled in North America.
How much is the Electric Vehicle Tax Credit (30D) worth?
The Electric Vehicle Tax Credit (30D) is worth up to $7,500 per year. The average taxpayer saves approximately $7,500.
Who is eligible for the Electric Vehicle Tax Credit (30D)?
Buyers of new qualifying electric vehicles. Key requirements include: New qualifying EV; MSRP under $55K cars / $80K trucks; Income under $150K single / $300K married.
What forms do I need to claim the Electric Vehicle Tax Credit (30D)?
You will need to file Form 8936 with your tax return to claim this credit.
Is the Electric Vehicle Tax Credit (30D) refundable?
Most business and energy tax credits are nonrefundable but can be carried forward to future tax years.
Can I claim the Electric Vehicle Tax Credit (30D) with other tax credits?
Yes, in most cases you can claim the Electric Vehicle Tax Credit (30D) along with other eligible tax credits. However, some credits have interactions that may reduce the benefit. Consult a tax professional for your specific situation.