techiefan said:
........................Anyone know how the federal rebate works that got it back? Do everyone qualify for it regardless of income or how more or less taxes one pays? I tried to read up on it and it's confusing somewhat. Also I don't understand the MFG cap of 200K cars because I understand they are over that # but the Leaf still qualifies for the rebate? Thanks and sorry for the questions here.
Don't worry about the "MFG cap of 200K cars" It does not apply to Nissan Leaf this year because they have not exceeded selling more than the Cap.
As other said you reduce your tax liability by up to $7,500. If your tax liability for the year is less than $7,500 you end up not paying taxes that year and will get a refund of all your withholding.
IRS Form 8936
https://www.irs.gov/pub/irs-pdf/f8936.pdfis used to calculate the credit that goes on line 54 of your 1040 form.
When I bought my 2015 Leaf I got a refund of $8,781 that year. $7,500 of that was because of the Leaf Tax credit.
If you use Turbotax, Taxact.com or any other tax prep software it fills out the proper forms and calculates everything for you.