Check your eligibility and calculate your federal electric vehicle tax credit
Quick Answer:New EVs assembled in North America can qualify for up to $7,500 in 2026 federal tax credits ($3,750 for critical minerals + $3,750 for battery components). Used EVs can get up to $4,000. Income and MSRP caps apply.
Your EV Tax Credit
Calculating... federal tax credit
Critical Minerals Credit
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Battery Component Credit
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Net Vehicle Cost
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Eligibility Status
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For 2026, the battery component sourcing requirements have increased to 60%, meaning fewer vehicles may qualify for the full $7,500 credit compared to prior years. Check the IRS qualified vehicle list before purchasing, as manufacturer compliance changes frequently. Also, starting in 2024, you can transfer the credit to the dealer at the point of sale for an immediate price reduction rather than waiting to claim it on your tax return.
For 2026, the maximum federal EV tax credit is $7,500 for new electric vehicles and plug-in hybrids, split into two components: $3,750 for meeting critical mineral requirements and $3,750 for meeting battery component requirements. Used EVs qualify for up to $4,000. The vehicle must undergo final assembly in North America and meet MSRP and income caps to qualify.
For new EVs in 2026, the modified adjusted gross income (MAGI) limits are $150,000 for single filers, $300,000 for married filing jointly, and $225,000 for head of household. For used EVs, the limits are lower: $75,000 for single filers and $150,000 for married filing jointly. These are based on the lesser of current or prior year MAGI.
For new EVs in 2026, the MSRP cap is $80,000 for SUVs, vans, and pickup trucks, and $55,000 for sedans and all other vehicles. For used EVs, the price cap is $25,000. If the vehicle's MSRP exceeds these caps, the buyer receives no credit regardless of other eligibility factors.