I didn't realize it wasn't refundable. However you don't need to make much to pay $7500 in taxes. I don't make enough to buy an electric car and I pay three times that.
> However you don't need to make much to pay $7500 in taxes.
You do if you're a family, with a 24K standard deduction, a family HSA ($7K), and any number of 401Ks for retirement. A group of people who would benefit significantly from an electric vehicle.
As I said, I don't qualify for the full amount and I earn well above the state's average.
You do if you're a family, with a 24K standard deduction, a family HSA ($7K), and any number of 401Ks for retirement. A group of people who would benefit significantly from an electric vehicle.
As I said, I don't qualify for the full amount and I earn well above the state's average.