Don't Leave $$$ On The Table (Tesla Tax Credit)

If you bought a Tesla in 2019 you are possibly entitled to claim a credit on your federal taxes. I say possibly because in order to take advantage of the EV tax credit you first need to owe federal taxes. For the record, we are NOT accountants or tax experts, so you should consult your own for how this credit pertains to you. But here are the salient points:

• a tax credit is simply a credit against the federal taxes you owe.
• The EV tax credit can only bring what you owe down to zero. It is not designed to compensate you beyond your tax liability.
• The unused balance of the tax credit can not be carried over to the following year.
• The federal tax credit is for owners who buy their cars and doesn’t apply to a lease situation. 

That being said…if you qualify, you should collect. 

This article from Edmunds breaks down the fine points of the credit really well. 

More info from Tesla, including additional incentives on a state-by-state breakdown of additional incentives.  

And finally, you can find a PRINTABLE .PDF of the required FORM 8936 on our website. 

So, go on and claim that credit then use it to buy COOL accessories for your Tesla and maybe even our User’s Guide! (click image below for link.)