Federal Tax Credits for All-Electric and Plug-in Hybrid Vehicles

Dovie Salais 3 years ago

Federal Tax Credit Up To $7,500! All-electric and plug-in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. State and/or local […]

Federal Tax Credit Up To $7,500!

All-electric and plug-in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. State and/or local incentives may also apply.

Small neighborhood electric vehicles do not qualify for this credit, but they may qualify for another credit.

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Vehicle Make & Model Vehicle Type Full Credit Phase Out
50% 25%
AMP Electric Vehicles

1/1/10 to Present TBD TBD
2012 GCE Electric Vehicle
GCE Electric Vehicle $7,500

–

–
2012 MLE Electric Vehicle
MLE Electric Vehicle $7,500

–

–
Audi

1/1/10 to Present TBD TBD
2016–18 A3 e-tron
2016 A3 e-tron $4,502

–

–
2019 e-tron SUV
e-tron SUV $7,500

–

–
2016 A3 e-tron ultra
2016 A3 e-tron ultra $4,502

–

–
2020 A8L PHEV
A8L PHEV $6,795

–

–
BMW

1/1/10 to Present TBD TBD
2014–20 i3 Sedan
BMW i3 Sedan $7,500

–

–
2014–20 i3 Sedan w/ Range Extender
BMW i3 Sedan w/ Range Extender $7,500

–

–
2017 i3 Sedan (w/ 60 amp-hr battery)
BMW i3 Sedan (w/ 60 amp-hr battery) $7,500

–

–
2018–20 i3s
BMW i3s $7,500

–

–
2018–20 i3s w/ Range Extender
BMW i3s w/ Range Extender $7,500

–

–
2014–17 i8
BMW i8 $3,793

–

–
2019–20 i8 Coupe
BMW i8 Coupe $5,669

–

–
2019–20 i8 Roadster
BMW i8 Roadster $5,669

–

–
2020 X3 xDrive30e
X3 xDrive30e $5,836

–

–
2016–18 X5 xDrive40e
BMW X5 xDrive40e $4,668

–

–
2016–18 330e
330e $4,001

–

–
2018–19 530e
530e $4,668

–

–
2020 530e
530e $5,836

–

–
2018–19 530e xDrive
530e xDrive $4,668

–

–
2020 530e xDrive
530e $5,836

–

–
2017 740e
740e $4,668

–

–
2018–19 740e xDrive
740e xDrive $4,668

–

–
2020 745e
745e $5,836

–

–
BYD Motors

1/1/10 to Present TBD TBD
2012–17 e6 Electric Vehicle
e6 Electric Vehicle $7,500

–

–
Cadillac

1/1/10 to 3/31/19 4/1/19 to 9/30/19 10/1/19 to 3/31/20
2014, 2016 Cadillac ELR
Cadillac ELR $7,500

$3,750

$1,875
2017–18 Cadillac CT6 Plug-in
Cadillac CT6 Plug-in $7,500

$3,750

$1,875
Chevrolet

1/1/10 to 3/31/19 4/1/19 to 9/30/19 10/1/19 to 3/31/20
2017–19 Chevrolet Bolt EV
Chevrolet Bolt EV $7,500

$3,750

$1,875
2011–19 Chevrolet Volt
Chevrolet Volt $7,500

$3,750

$1,875
2014–16 Chevrolet Spark EV
Chevrolet $7,500

$3,750

$1,875
Chrysler

1/1/10 to Present TBD TBD
2017–20 Pacifica Plug-in Hybrid
Pacifica Plug-in Hybrid $7,500

–

–
CODA Automotive

1/1/10 to Present TBD TBD
2010, 2012 CODA Sedan
CODA Sedan $7,500

–

–
Electric Mobile Cars

1/1/10 to Present TBD TBD
2010 E36 7 Passenger Wagon
E36 7 Passenger Wagon $7,500

–

–
2010 E36t Pick-up Truck
E36t Pick-up Truck $7,500

–

–
2010 E36v Utility Van
E36v Utility Van $7,500

–

–
Ferrari

1/1/10 to Present TBD TBD
2020–21 SF90 Stradale
SF90 Stradale $3,501

–

–
Fiat

1/1/10 to Present TBD TBD
2013–19 Fiat 500e
Fiat 500e $7,500

–

–
Fisker

1/1/10 to Present TBD TBD
2012 Fisker Karma Sedan
Fisker Karma $7,500

–

–
Ford

1/1/10 to Present TBD TBD
2012–18 Ford Focus EV
Ford Focus EV $7,500

–

–
2013–17 Ford C-Max Energi
Ford C-Max Energi $4,007

–

–
2013–18 Ford Fusion Energi
Ford Fusion Plug-in Hybrid $4,007

–

–
2019–20 Ford Fusion Energi
Ford Fusion Plug-in Hybrid $4,609

–

–
Ford/Azure Dynamics

1/1/10 to Present TBD TBD
2011–12 Transit Connect EV
Azure Dynamics Transit Connect $7,500

–

–
Honda

1/1/10 to Present TBD TBD
2014 Accord Plug-in Hybrid
Honda Accord Plug-in Hybrid $3,626

–

–
2018–19 Clarity Plug-in Hybrid
Honda Clarity Plug-in Hybrid $7,500

–

–
Hyundai

1/1/10 to Present TBD TBD
2017–19 Ioniq Electric
Ioniq Electric $7,500

–

–
2018–19 Ioniq Plug-in Hybrid Electric Vehicle
Ioniq Plug-in Hybrid Electric Vehicle $4,543

–

–
2019 Kona Electric Vehicle
Kona Electric Vehicle $7,500

–

–
2016–19 Sonata Plug-in Hybrid
Hyundai Sonata Plug-in Hybrid $4,919

–

–
Jaguar

1/1/10 to Present TBD TBD
2019 Jaguar I-Pace (First Edition, HSE, SE, S models)
2019 Jaguar I-Pace (First Edition, HSE, SE, S models) $7,500

–

–
2020 Jaguar I-Pace (HSE, SE, S models)
2020 Jaguar I-Pace (HSE, SE, S models) $7,500

–

–
Kandi

1/1/10 to Present TBD TBD
2019–21 Kandi EX3
Kandi EX3 $7,500

–

–
2019–20 Kandi K22
Kandi K22 $7,500

–

–
2020–21 Kandi K23
Kandi K23 $7,500

–

–
2020–21 Kandi K27
Kandi K27 $7,500

–

–
Karma

1/1/10 to Present TBD TBD
2018–20 Karma Revero
Karma Revero $7,500

–

–
Kia

1/1/10 to Present TBD TBD
2019–20 Niro EV
Niro EV $7,500

–

–
2018–20 Niro Plug-in Hybrid
Niro Plug-in Hybrid $4,543

–

–
2017–20 Optima Plug-in Hybrid
Kia Optima Plug-in Hybrid $4,919

–

–
2015–20 Soul Electric
Kia Soul Electric $7,500

–

–
Land Rover

1/1/10 to Present TBD TBD
2019 Range Rover PHEV (HSE)
Range Rover PHEV (HSE) $7,087

–

–
2019 Range Rover Sport PHEV (HSE)
Range Rover Sport PHEV (HSE) $7,087

–

–
2020 Range Rover PHEV
Range Rover PHEV $6,295

–

–
2020 Range Rover Sport PHEV
Range Rover Sport Sport PHEV $6,295

–

–
Lincoln

1/1/10 to Present TBD TBD
2020 Lincoln Aviator Grand Touring
Lincoln Aviator PHEV AWD $6,534

–

–
Mercedes-Benz

1/1/10 to Present TBD TBD
2014–17 B-Class EV
B-Class EV $7,500

–

–
2015–17 S550e PHEV
S550e Plug-in Hybrid $4,460

–

–
2016–18 GLE550e 4matic PHEV
GLE550e 4matic $4,460

–

–
2018–19 GLC350e 4matic PHEV
GLC350e 4matic $4,460

–

–
2016–18 C350e
C350e $3,501

–

–
MINI

1/1/10 to Present TBD TBD
2018–19 MINI Cooper S E Countryman ALL4
MINI Cooper SE Countryman ALL4 $4,001

–

–
2020 MINI Cooper S E Countryman ALL4
MINI Cooper SE Countryman ALL4 $5,002

–

–
2020 MINI Cooper S E Hardtop 2-Door
MINI Cooper S E Hardtop 2-Door $7,500

–

–
Mitsubishi

1/1/10 to Present TBD TBD
2012, 2014, 2016, 2017 i-MiEV
Mitsubishi i-MiEV $7,500

–

–
2018–20 Outlander Plug-in
Outlander Plug-in $5,836

–

–
Nissan

1/1/10 to Present TBD TBD
2011–19 Leaf
Nissan Leaf $7,500

–

–
Polestar Automotive

1/1/10 to Present TBD TBD
2020 Polestar 1
Polestar 1 $7,500

–

–
2021 Polestar 2
Polestar 1 $7,500

–

–
Porsche

1/1/10 to Present TBD TBD
2015–18 Cayenne S E-Hybrid
Porsche Cayenne S E-Hybrid $5,336

–

–
2019 Cayenne E-Hybrid
Porsche Cayenne S E-Hybrid $6,712

–

–
2014–16 Panamera S E-Hybrid
Porsche Panamera S E-Hybrid $4,752

–

–
2015 918 Spyder
Porsche 918 Spyder $3,667

–

–
2018 Panamera 4 E-Hybrid (E-Hybrid, E-Hybrid Sport Turismo, E-Hybrid Executive, Turbo S E-Hybrid, Turbo S E-Hybrid Executive)
Panamera 4 E-Hybrid $6,670

–

–
2019–20 Panamera 4 E-Hybrid (E-Hybrid, E-Hybrid Sport Turismo, E-Hybrid Executive, Turbo S E-Hybrid, Turbo S E-Hybrid Executive)
Panamera 4 E-Hybrid $6,712

–

–
2020 Taycan Turbo EV
Taycan Turbo EV $7,500

–

–
2020 Taycan Turbo S EV
Taycan Turbo S EV $7,500

–

–
smart USA

1/1/10 to Present TBD TBD
2011, 2013–18 fortwo electric vehicle (all)
smart fortwo electric vehicle $7,500

–

–
2019 EQ fortwo Coupe
smart EQ fortwo Coupe $7,500

–

–
2019 EQ fortwo Cabrio
smart EQ fortwo Cabrio $7,500

–

–
Subaru

1/1/10 to Present TBD TBD
2019–20 Crosstek Hybrid
Subaru Crosstek Hybrid $4,502

–

–
Tesla Motors

1/1/10 to 12/31/18 1/1/19 to 6/30/19 7/1/19 to 12/31/19
2012–20 Model S
Tesla Model S $7,500

$3,750

$1,875
2016–20 Model X
Tesla Model X $7,500

$3,750

$1,875
2020 Model 3 Standard Range
Tesla Model 3 Standard Range $7,500

$3,750

$1,875
2019–20 Model 3 Standard Range Plus
Tesla Model 3 Standard Range Plus $7,500

$3,750

$1,875
2017–20 Model 3 Long Range
Tesla Model 3 Long Range $7,500

$3,750

$1,875
2018–20 Model 3 Long Range AWD and AWD Performance
Tesla Model 3 Long Range AWD and AWD Performance $7,500

$3,750

$1,875
2018–20 Model 3 Mid Range
Tesla Model 3 Mid Range $7,500

$3,750

$1,875
2008–11 Roadster
Tesla Roadster $7,500

$3,750

$1,875
Think

1/1/10 to Present TBD TBD
2011 Think City EV
Think City EV $7,500

–

–
Toyota

1/1/10 to Present TBD TBD
2012–14 RAV4 EV
Toyota RAV4 EV $7,500

–

–
2012–15 Prius Plug-in Hybrid
Toyota Prius Plug-in Hybrid $2,500

–

–
2017–20 Prius Prime Plug-in Hybrid
Toyota Prius Prime Plug-in Hybrid $4,502

–

–
VIA Motors

1/1/10 to Present TBD TBD
2014 2500 Extended Range Electric Passenger Van
No photo $7,500

–

–
2014 1500 Extended Range Electric Truck 4WD (All body styles)
No photo $7,500

–

–
2014 2500 Extended Range Electric Cargo Van
No photo $7,500

–

–
2014 1500 Extended Range Electric Truck 2WD (All body styles)
No photo $7,500

–

–
Volkswagen

1/1/10 to Present TBD TBD
2015–19 e-Golf
Volkswagen e-Golf $7,500

–

–
Volvo

1/1/10 to Present TBD TBD
2019 S60
Volvo S60 $5,002

–

–
2020 S60
Volvo S60 $5,419

–

–
2018–19 S90
Volvo S90 $5,002

–

–
2020 S90
Volvo S90 $5,419

–

–
2020 V60
Volvo V60 $5,419

–

–
2018–19 XC60
Volvo S90 $5,002

–

–
2020 XC60
Volvo XC60 $5,419

–

–
2016–17 XC90
Volvo XC90 $4,585

–

–
2018–19 XC90
Volvo XC90 $5,002

–

–
2020 XC90
Volvo XC90 $5,419

–

–
2018–19 XC90 Excellence
Volvo XC90 Excellence $5,002

–

–
Wheego

1/1/10 to Present TBD TBD
2011 LiFe
Wheego LiFe $7,500

–

–
Zenith Motors

1/1/10 to Present TBD TBD
2014–2017 Electric Van
Zenith Electric Van $7,500

–

–
2016–2017 Electric Minibus
Zenith Electric Van $7,500

–

–

TBD = To be determined

Updated 4/3/20

To be certified for the credit by the manufacturer, the vehicle must meet the following requirements:

  • The vehicle must be made by a manufacturer (i.e., it doesn’t include conventional vehicles converted to electric drive).

  • It must be treated as a motor vehicle for purposes of title II of the Clean Air Act.

  • It must have a gross vehicle weight rating (GVWR) of not more than 14,000 lbs.

  • It must be propelled to a significant extent by an electric motor which draws electricity from a battery which
    • has a capacity of not less than 4 kilowatt hours and

    • is capable of being recharged from an external source of electricity.

The following requirements must also be met for a certified vehicle to qualify:

  • The original use of the vehicle commences with the taxpayer—it must be a new vehicle.

  • The vehicle is acquired for use or lease by the taxpayer, and not for resale. (The credit is only available to the original purchaser of a new, qualifying vehicle. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.)

  • The vehicle is used mostly in the United States.

  • The vehicle must be placed in service by the taxpayer during or after the 2010 calendar year.

The credit begins to phase out for vehicles at the beginning of the second calendar quarter after the manufacturer has sold 200,000 eligible plug-in electric vehicles (i.e., plug-in hybrids and EVs) in the United States as counted from January 1, 2010. IRS will announce when a manufacturer exceeds this production figure and will announce the subsequent phase out schedule (Plug-In Electric Drive Motor Vehicle Credit Quarterly Sales).

Fill out Form 8936Adobe Acrobat Icon, Qualified Plug-in Electric Drive Motor Vehicle Credit.

For vehicles acquired for personal use, report the credit from Form 8936Adobe Acrobat Icon on the appropriate line of your Form 1040, U.S. Individual Income Tax ReturnAdobe Acrobat Icon.

For vehicles purchased in 2010 or later, this credit can be used toward the alternative minimum tax (AMT).

If the qualifying vehicle is purchased for business use, the credit for the business use of an electric vehicle is reported on Form 3800Adobe Acrobat Icon, General Business Credit.

DISCLAIMER

The information on this page should not be viewed as an official or legally binding document. Other requirements or exceptions may apply. For more detailed information, please consult an IRS tax representative and/or official IRS publications.

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