Peace_Berry_House
Peace_Berry_House OP t1_j2biup5 wrote
Reply to comment by freddie_the_mercury in Do I get an IRA clean vehicle tax credit if I just bought a 2023 Chevy Bolt EUV last week? by Peace_Berry_House
Ohhh that’s why they didn’t publish numbers for 2021 and 2022, assumed to be zero. Dang. Well, thanks for your help interpreting. I wish this information had been published earlier but that’s on me for jumping the gun.
Peace_Berry_House OP t1_j2bipdk wrote
Reply to comment by amcarney in Do I get an IRA clean vehicle tax credit if I just bought a 2023 Chevy Bolt EUV last week? by Peace_Berry_House
That makes sense. Yes, the car was $6500 below MSRP plus I got a $2000 Drive Clean rebate from NY at the point of sale (still taxable though!). At least I am really happy with the make and model I chose lol.
Peace_Berry_House OP t1_j2big90 wrote
Reply to comment by 93195 in Do I get an IRA clean vehicle tax credit if I just bought a 2023 Chevy Bolt EUV last week? by Peace_Berry_House
I think that’s what my dad was getting at but before this tax guidance was released today it seemed that cars purchased after the IRA legislation was passed eg after October 2022 were going to be eligible. Now it appears it has been finalized that no purchase qualifies before January 1, 2023. In terms of logistics and communication, not a point about politics, I feel like this was really poorly handled by IRS and DOE based on the consumer guidance I was reading at the beginning of Q4 2022.
Peace_Berry_House OP t1_j2bi3nh wrote
Reply to comment by freddie_the_mercury in Do I get an IRA clean vehicle tax credit if I just bought a 2023 Chevy Bolt EUV last week? by Peace_Berry_House
What’s weird is the 2023 Chevy Bolt EUV is not listed under qualifying vehicles for 2022 under the old rules but is listed as qualified under the new rules?
Peace_Berry_House OP t1_j2bhxy2 wrote
Reply to comment by Interesting-Dish8894 in Do I get an IRA clean vehicle tax credit if I just bought a 2023 Chevy Bolt EUV last week? by Peace_Berry_House
Well assuming Chevy does raise the price as expected I guess it’s not too bad saving $6500 at the point of sale as opposed to reducing my tax liability by either $3750 or $7500. It is also unclear what happens if there is a manufacturer phase out during the tax year you buy the vehicle - is it the date you purchase the vehicle or date you file your taxes? Point being if this is super popular you could lose out on the rebate anyway. I am just going to be grateful that I calculated I will be saving about $5,000 in fuel and maintenance costs annually after subtracting out the estimated cost of electricity commuting to work and expected EV maintenance and not too upset at myself for something I can’t change. I’m not financially vulnerable but this still is annoying to potentially have left money on the table.
Peace_Berry_House OP t1_j2bj5v0 wrote
Reply to comment by freddie_the_mercury in Do I get an IRA clean vehicle tax credit if I just bought a 2023 Chevy Bolt EUV last week? by Peace_Berry_House
For everyone else’s sake I hope you’re wrong. For my own sake I hope you’re right lol. I found news articles hinting that prices are going to be raised because the manufacturers don’t want to incur the additional costs of manufacturing in the US or providing proof that certifies where the parts were sourced.