EV Tax Credit Calculator

The Inflation Reduction Act provides up to $7,500 for new EVs and $4,000 for used EVs, but strict income caps, MSRP limits, and assembly requirements mean many buyers don't qualify. Answer these questions to see your exact credit amount and which requirements you meet or miss before heading to the dealership.

New or Used EV?

Vehicle Type

Vehicle MSRP ($)

Your Modified AGI ($)

Filing Status

North American Final Assembly?

Critical Minerals Battery Requirement Met?

Battery Components Requirement Met?

Your EV Tax Credit

Vehicle Assembly Requirement

MSRP Cap

Income (MAGI) Limit

Critical Minerals (+$3,750)

Battery Components (+$3,750)

The EV credit is non-refundable. Starting 2024 you can transfer the credit to the dealer for an instant price reduction (§6418 transfer). Verify assembly location using the VIN decoder at nhtsa.gov before purchase.