Electric Vehicle Credit – Killer IRS Explanation
Electric Vehicle Credit – Credit Eligibility For Plug-In Electric Drive Vehicles
This electric vehicle credit applies to qualified plug in electric drive vehicles, including passenger vehicles or light trucks purchased or leased after December 31, 2009.The minimum amount for qualified vehicles is $2,500. If you are eligible, you may receive a electric vehicle credit equal to $7,500 (the amount of the credit is calculated depending on battery capacity).
Claim For This Credit In A Timely Manner! The credit Phases Out After 200,000 Eligible Vehicles
The amount of electric vehicle credit initially provided will be reduced after the manufacturer has sold 200,000 qualifying vehicles.