IRS Update: Tax Credit Available if Your Down Payment Placed by September 30

[JayGT4]

The IRS has issued a new FAQ about tax credits:

Here's the direct link: https://www.irs.gov/newsroom/faqs-f...-known-as-the-one-big-beautiful-bill-act-obbb

They list the various expiring credits. See Item 30D "New clean vehicle credit"

Here's what they define "acquired" as:

So a payment "includes a nominal downpayment or a vehicle trade-in".

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[nadkoolio]

The IRS has issued a new FAQ about tax credits:

Here's the direct link: https://www.irs.gov/newsroom/faqs-f...-known-as-the-one-big-beautiful-bill-act-obbb

They list the various expiring credits. See Item 30D "New clean vehicle credit"

Here's what they define "acquired" as:

So a payment "includes a nominal downpayment or a vehicle trade-in".

Great find and info! The qualified commercial clean vehicle credit is what's relevant for leasing the Macan EV. In this situation though it is Porsche Financial Services getting the credit from the government so they would have to enter the contract and make down payment, so not sure if/how that would work.

I wouldn't assume that you can just order a vehicle before September 30th and get the credit with something in writing from the dealership. Also not sure that the typical down payment for ordering to be built is a binding contract.

 

[alvaro]

I was just wondering if this would apply if I put a down payment on a Cayenne or Caymen EV?

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