Case: Taxpayers Not Entitled to New Qualified Plug-In Electric Vehicle Credit for Year Other than Year Placed in Service (T.C.) (IRC §30D)

Taxpayers were not entitled to claim the new qualified plug-in electric drive motor vehicle credit for 2019, held the U.S. Tax Court, granting summary judgment for the IRS. Taxpayers, a married couple, purchased a new electric vehicle in 2013 and claimed a $7,500 I.R.C. §30D credit for that vehicle each year from 2013 through 2019. The IRS disallowed the credit for 2019 and issued a notice of deficiency. The court held that §30D provides a one-time credit of up to $7,500 for new qualified electric vehicles “placed in service by the taxpayer during the taxable year.” While §30D does not ...