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A
aliasingh
April 2, 2025
Question

Clean energy Vehicle - Buy versus lease

  • April 2, 2025
  • 1 reply
  • 0 views

I got an Electric vehicle in 2024. But I leased the car did not buy it, the question on the tax form asks if i bought the vehicle. Can i say yes with a lease? or does it have to be a purchase?

1 reply

M
mglauner
April 2, 2025

For an individual, the credit can only be claimed for purchased vehicles.  Here's more info on the Clean Vehicle Credit.

 

If owned by a business, it may qualify as a General Business Credit.  Here's more info from the IRS on Commercial Clean Vehicle Credit.

 

@aliasingh 

A
aliasinghAuthor
April 2, 2025

@mglauner Ah thanks Marilyn so confirming since I am an individual leasing a Tesla I do not get to take advantage of this benefit.

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