Video Tips: Using Clean Vehicle Credit as a Down Payment Beginning in 2024

Published December 18, 2023

The Inflation Reduction Act provides taxpayers with credits for qualified new and previously owned clean vehicles acquired and placed in service during the taxable year. Beginning with vehicle purchases as of Jan. 1, 2024, in certain situations, taxpayers will be able to transfer the new and previously owned clean vehicle credits to the dealer which can be used to reduce the purchase price or go towards the down payment.

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