Is there a tax credit for purchasing a hybrid vehicle during 2022? My client purchased a hybrid vehicle during 2022 and was told they could claim a credit on their tax return for 2022.
I "think" plug in hybrids still qualify, see form 8936, you may have to drag out the instructions.
(I confess to stealing this...)
Gosh, if only the IRS would provide some guidance on the regulations that apply:
https://www.irs.gov/credits-deductions/credits-for-new-electric-vehicles-purchased-in-2022-or-before
A hybrid is a combo of gas and electric. They don't qualify. Do you use Pub 17 as a reference tool? If not, you should. You would get quicker answers.
PUB 17 says:
New clean vehicle credit. The credit for new qualified plug-in electric drive motor vehicles has changed. This credit is now known as the clean vehicle credit. The maximum amount of the credit and some of the requirements to claim the credit have changed. The credit is still reported on Form 8936 and Schedule 3 (Form 1040), line 6f. For more information, see Form 8936.
Some all-electric and plug-in hybrid vehicles qualify for a $3,700 to $7,500 federal tax credit. Many states also offer additional incentives for purchasing new EVs.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.