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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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We will be purchasing an electric vehicle that qualifies for

Resolved Question:

We will be purchasing an electric vehicle that qualifies for a $7500 Federal tax credit and a $2500 state rebate. Do we get the rebate right at the time of purchase to put down toward the car, or do we collect the monies after we complete our 2010 taxes in 2011?
Submitted: 6 years ago.
Category: Tax
Expert:  Merlo replied 6 years ago.

Hello JA Customer,


The federal tax credit of $7,500 cannot be claimed until you file your 2010 tax return.


The CA state rebate of $2,500 is paid to you through the dealer in the form of a price reduction on the vehicle, so the state credit is not something you have to wait on to receive.


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Thank you



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