EV Tax Credit Calculator

Estimate your federal EV tax credit eligibility based on vehicle MSRP, your filing status, and income. Includes the $7,500 new and $4,000 used EV credits.

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The federal EV tax credit under the Inflation Reduction Act provides up to $7,500 for new qualifying EVs and up to $4,000 for used EVs. For new vehicles, the MSRP cap is $55,000 for sedans and $80,000 for SUVs, trucks, and vans. Income limits are $150,000 (single), $225,000 (head of household), or $300,000 (married filing jointly). The credit is based on two components: $3,750 for meeting critical mineral requirements and $3,750 for meeting battery component requirements. Starting in 2024, buyers can transfer the credit to the dealer at the point of sale, effectively getting an instant discount. Many states offer additional incentives on top of the federal credit.