Pre-Owned Electric Vehicle Special

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Disclaimer:

**Get up to $4000 in a federal tax credit if you purchase a $25,000 or less used all electric vehicle that is 2 years old or older. Other qualifications and restrictions apply. visit https://www.irs.gov/credits-deductions/used-clean-vehicle-credit for specific details. Mossy Volkswagen is not giving official tax advice. Please make sure to consult your tax official for guidance. *If you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000. If you do not transfer the credit, it is nonrefundable when you file your taxes, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years. At the time of sale, a seller must give you information about your vehicle's qualifications. Sellers must also register online and report the same information to the IRS. If they don't, your vehicle won't be eligible for the credit. Purchases made before 2023 don't qualify. You may qualify for a credit for buying a previously owned, qualified plug-in electric vehicle (EV) or fuel cell vehicle (FCV), including cars and light trucks, under Internal Revenue Code Section 25E. To qualify, you must: Be an individual who bought the vehicle for use and not for resale, Not be the original owner, Not be claimed as a dependent on another person's tax return, Not have claimed another used clean vehicle credit in the 3 years before the purchase date. In addition, your modified adjusted gross income (AGI) may not exceed: $150,000 for married filing jointly or a surviving spouse, $112,500 for heads of households, $75,000 for all other filers. You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your income is below the threshold for 1 of the 2 years, you can claim the credit.