Hello,
Thinking of purchasing the Leaf here in California and thought I'd ask here since you guys have actually gone thru the process as the websites have conflicting information.
If they say for example there is a $5,000 federal tax credit, does that mean you only get that credit if you owe at the end of the year? I'm a regular W2 employee with no deductible expenses or a mortgage, so i usually end up receiving about $10k back from the federal return and $4k from CA state return each year. Does this mean the tax credit from buying the leaf will be $0 for me? It says somewhere that you only get the tax credit if you have a bill due to the IRS. Can you elaborate on how this all works? Thanks for any advice!
Thinking of purchasing the Leaf here in California and thought I'd ask here since you guys have actually gone thru the process as the websites have conflicting information.
If they say for example there is a $5,000 federal tax credit, does that mean you only get that credit if you owe at the end of the year? I'm a regular W2 employee with no deductible expenses or a mortgage, so i usually end up receiving about $10k back from the federal return and $4k from CA state return each year. Does this mean the tax credit from buying the leaf will be $0 for me? It says somewhere that you only get the tax credit if you have a bill due to the IRS. Can you elaborate on how this all works? Thanks for any advice!