Does this include battery/assembly requirements?

No. This is a high-level cap check. Specific vehicle eligibility depends on battery/assembly rules.

Is the used EV credit always $4,000?

It’s up to $4,000 or 30% of price, whichever is lower. This tool shows the max; adjust if price < ~$13.3k.

Does this handle point-of-sale credits?

No. It’s a basic eligibility check; dealer processes not modeled.

No. Check IRS guidance and vehicle-specific eligibility.

finance calculator

EV Tax Credit Calculator

Check basic eligibility and maximum credit for new vs used EVs based on MSRP and income caps.

Results

Estimated max credit: $7,500
Income eligibility (1=yes,0=no): 1
MSRP eligibility (1=yes,0=no): 1

How to use this calculator

Enter MSRP (purchase price for used) and AGI.
Select filing status and whether the vehicle is new or used.
Review eligibility flags and max credit amount.

Inputs explained

MSRP/purchase price: Must be under caps to qualify (new: ~$80k; used: $25k).
AGI: Must be under income caps for your filing status.
New vs used: Select used for the used EV credit with lower caps.

How it works

Income caps: New EVs ~ $150k single / $225k HOH / $300k MFJ. Used: $75k single / $112,500 HOH / $150k MFJ.

MSRP caps: New EVs typically capped at $80k; used EV purchase price cap $25k.

Credit max: $7,500 new; $4,000 used (or 30% of price, capped at $4,000). This tool shows max credit if caps are met.

Formula

Income eligibility = AGI ≤ income cap
Price eligibility = MSRP ≤ price cap
Credit = Max credit if both eligible; otherwise $0

When to use it

Screening EV purchases for credit eligibility.
Checking if income or price is the binding constraint.
Comparing new vs used EV credit amounts.

Tips & cautions

This is a simplified eligibility check; battery, assembly, and MSRP class rules apply in reality.
Income caps depend on filing status and are firm cutoffs.
For used EVs, credit is max $4k or 30% of price—this tool shows the max ($4k) if caps are met.
Does not model battery/assembly/critical mineral requirements.
Assumes standard caps; verify current IRS rules for specific makes/models.
Does not model dealer point-of-sale credit processes.

Worked examples

New EV, $45k MSRP, AGI $120k, single

Income eligible (cap $150k)
Price eligible (cap $80k)
Credit = $7,500

Used EV, $20k, AGI $130k, MFJ

Income eligible? Cap $150k MFJ → eligible
Price eligible? $20k ≤ $25k → eligible
Credit = $4,000 (max used credit)

Deep dive

Check EV tax credit eligibility by entering MSRP, AGI, filing status, and whether the EV is new or used.

See if you meet income/price caps and the maximum credit amount ($7,500 new, $4,000 used).

FAQs

Does this include battery/assembly requirements?: No. This is a high-level cap check. Specific vehicle eligibility depends on battery/assembly rules.
Is the used EV credit always $4,000?: It’s up to $4,000 or 30% of price, whichever is lower. This tool shows the max; adjust if price < ~$13.3k.
Can I claim if AGI is over the cap?: No. Caps are hard cutoffs.
Does this handle point-of-sale credits?: No. It’s a basic eligibility check; dealer processes not modeled.
Is this tax advice?: No. Check IRS guidance and vehicle-specific eligibility.

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