Reply to post: Re: Tax Law - I doubt MANY who qualify for the credit can use it.

Tesla share crash amid Republican bid to kill off electric car tax break

Tom 13

Re: Tax Law - I doubt MANY who qualify for the credit can use it.

Perhaps you made a typo when you put in your screen name. Look to me like your moniker should be Captain ObLIvious.

Whether or not you are due a refund is a function of how much you've had withheld, not a function of your tax liability. So, if after deductions I have a tax liability of $47,900 single/$56,200 filing jointly (using 2016 tax tables) and I got the $7,500 tax credit I'd still be eligible for the tax credit, assuming the vendor didn't exceed their quota of tax credits. Given a standard deduction of $6,300/$12,600 plus personal exemptions, that puts the gross income at $54,300 single/$68,800 minimum. Given the US Census Bureau puts the median US wage at $56,516 there's a roughly 50/50 chance a random person would qualify for the deduction.

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