Taxpayers may qualify for the new Previously Owned Clean Vehicle Credit

April 3, 2023

Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a Previously Owned Clean Vehicle Credit. The credit equals 30% of the sale price up to a maximum credit of $4,000.

The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. To qualify you must meet certain income limitations as well as other requirements.

Visit the frequently asked questions page of IRS.gov for more information.