Comment by floxy
1 day ago
Even finer print: the $7,500 federal incentive is a tax rebate. If you don't have a $7,500 tax liability, you won't get the full amount. (this also applies if you transfer the credit to the dealer at point of sale). I mean, money is fungible and all, but your particular tax dollars aren't going to people who buy EVs, they are just paying less in taxes.
>this also applies if you transfer the credit to the dealer at point of sale
No, it does not. See Q4 at the following link:
https://www.irs.gov/newsroom/topic-h-frequently-asked-questi...
My understanding is that the dealer has to have the tax liability. IANATL, YMMV.
>money is fungible
And then you contradicted yourself 2 phrases over.