Updated FAQs Related to New, Previously Owned, and Qualified Commercial Clean Vehicle Credits

Cross References

The IRS has updated its frequently asked questions (FAQs) related to new, previously owned, and qualified commercial clean vehicle credits. These FAQs replace all previously issued FAQs related to these credits. The updated FAQs include:

  • Topic A: Eligibility rules for the New Clean Vehicle Credit: updated questions 2, 7, 8, 12 and 18, and added questions 15 – 17.
  • Topic B: Income and Price Limitations for the New Clean Vehicle Credit: updated questions 3, 4, and 7 – 10, and added questions 12 – 14.
  • Topic C: When the New Requirements Apply to the New Clean Vehicle Credit: updated questions 4 and 6.
  • Topic D: Eligibility Rules for the Previously Owned Clean Vehicles Credit: updated questions 3 and 12 and added questions 13 – 15.
  • Topic E: Income and Price Limitations for Previously Owned Clean Vehicles: updated question 2.
  • Topic F: Claiming the Previously Owned Clean Vehicles Credit: updated question 3.
  • Topic H: Transfer of New Clean Vehicle Credit and Previously Owned Clean Vehicle Credit: updated questions 1 – 3, 11, 12, 14 – 15 and 18, and added questions 23 – 30.
  • Topic I: Registering a Dealer/Seller for Seller Reporting and Clean Vehicle Tax Credit Transfers: updated questions 4, 13, and 14, and added questions 19 – 30.

Although these FAQs may not be relied on or used by the IRS to resolve a case, a taxpayer who reasonably and in good faith relies on these FAQs will not be subject to a negligence or accuracy-related penalty.

To view the complete list of FAQs, including the updated ones, go to: https://www.irs.gov/pub/taxpros/fs–2024–26.pdf