Federal Tax Credit for Electric and Plug-in Hybrids Up To $7500

Mar 05, 2015

Electric vehicles (EVs) and Plug-in Hybrid Electric Vehicles (PHEVs) purchased 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 fuel the vehicle. Find out if your model qualifies & how much you can save with this credit on EV models and on PHEV models. You can use Form 8936 to figure your credit for qualified EVs or PHEVs you placed in service during your tax year.