Quote:
Originally Posted by icantchat
Still confused about this. What if my car is now in transit and I have paid less than 5% of the price as deposit when I ordered it in July. Will it qualify for the tax credit or not?
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Yes it should qualify, here is an excerpt from the IRS website:
“Vehicles Purchased and Delivered between
August 16, 2022 and December 31, 2022
If you purchase and take possession of a qualifying electric vehicle after August 16, 2022 and before January 1, 2023, aside from the final assembly requirement, the rules in effect before the enactment of the Inflation Reduction Act for the EV credit apply (including those involving the manufacturing caps on vehicles sold). If you entered into a written binding contract to purchase a new qualifying vehicle before August 16, 2022, see the rule above.”