Tesla Model 3

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Does a 2020 Telsa Model 3, purchased used in July of 2022 qualify for any federal tax credits? My client seems to think so, but I can not find any where that says it does qualify.

Thanks

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qbteachmtAnswer

Level 15

You might want to bookmark for your needs.

2023:

https://www.irs.gov/credits-deductions/manufacturers-and-models-for-new-qualified-clean-vehicles-purchased-in-2023-or-after

2022:

https://www.irs.gov/credits-deductions/manufacturers-and-models-for-new-qualified-clean-vehicles-purchased-in-2022-and-before

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Just-Lisa-Now-

Intuit Community Champion

Tesla ran out of credit money back in 2021, I dont think theres anything for 2022, but I see some models are coming back with credits for those purchased in 2023.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Camp1040

Level 10

If he bought in 2023 it would qualify.

qbteachmtAnswer

Level 15

You might want to bookmark for your needs.

2023:

https://www.irs.gov/credits-deductions/manufacturers-and-models-for-new-qualified-clean-vehicles-purchased-in-2023-or-after

2022:

https://www.irs.gov/credits-deductions/manufacturers-and-models-for-new-qualified-clean-vehicles-purchased-in-2022-and-before

Don't yell at us; we're volunteers

K

kwthetaxguy

Level 4

So, everything I have read indicates that a 2022 Model 3 Rear-Wheel drive is not eligible for any amount of credits based on the fact that Tesla used all of their credits in 2021 - is that correct? I wish people would just answer the questions in this forum instead of posting links to IRS websites. I've read through the rules, I just want to make sure we're all coming to the same conclusion.

You know the ol' adage, ask 10 accountants about their interpretation of the tax law, and you'll receive 10 different answers.