0323 Publ 5724-E (PDF)

Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/p5724e.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

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Here is what you should know:

~ The maximum amount of the credit is $7,500 per vehicle purchased that year.

• The amount of the credit allowed can’t exceed the amount of tax you owe. ~ The credit is allowed for vehicles with manufacturer’s suggested retail price less

than or equal to:

• $80,000* for vans, sport utility vehicles, pick-up trucks

• $55,000* for other vehicles

* Base retail price suggested by the manufacturer, plus the retail price suggested by the manufacturer for each accessory or item of optional equipment attached to the vehicle.

You may be eligible for the credit if your modified adjusted gross income* (MAGI) for the current year or prior year is less than or equal to:

~ $300,000 for married filing jointly or filing as a qualifying surviving spouse or a

qualifying widow(er) ~ $225,000 for head of household ~ $150,000 for all other filers

* Modified adjusted gross income means adjusted gross income increased by any amount excluded from gross income because it was received from a foreign source.

~ Final assembly

• Final assembly must occur within North America (effective 08/17/2022).

• To identify the manufacture location for a specific vehicle, go to the Department of Energy’s page and use the VIN Decoder tool under “Specific Assembly Location Based on VIN.” ~ Manufacturer: The vehicle manufacturer must be a Qualified Manufacturer. A

Qualified Manufacturers list is on IRS.gov. ~ Battery: The battery must have at least 7 kWh of capacity with

external charging gross vehicle weight rating of less than 14,000 lbs. ~ Vehicle type: The vehicle must be a plug-in hybrid electric, or electric

vehicle, or a hydrogen fuel cell vehicle.

WWW.IRS.GOV/CLEANVEHICLES

Publication 5724-E (3-2023) Catalog Number 93910Z Department of the Treasury Internal Revenue Service www.irs.gov