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MurraytheDemonSkull 2.8M Views
Jan 13, 2023 4:18 AM

2023 Tesla Model Y + $7,500 Federal Tax Credit

$52,990

$52,990

(For Qualifying Buyers)
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Deal Details
Tesla has dropped the base price of the Tesla Model Y from $65,990 down to $52,990. This price reduction means the Model Y now qualifies for the $7,500 Federal Tax Credit (details here).

Thanks to Community Member MurraytheDemonSkull for finding this deal.

Additionally, the base prices of all Tesla vehicles have been reduced. The base Model 3 is now $43,990, which is $3,000 lower than before. The Model 3 Performance is now $53,990, which is $9,000 lower than before, and now qualifies for the tax credit.

Editor's Notes

Written by RazorConcepts
  • This is $13,000 lower (19% savings) than the previous base price.
  • Factoring in the tax credit, the price of the Model Y today is $20,000 less than one purchased in December 2022.
  • To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
    • $300,000 for married couples filing jointly
    • $225,000 for heads of households
    • $150,000 for all other filers
  • The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
  • Refer to the forum thread for additional deal discussion.

Original Post

Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Tesla has dropped the base price of the Tesla Model Y from $65,990 down to $52,990. This price reduction means the Model Y now qualifies for the $7,500 Federal Tax Credit (details here).

Thanks to Community Member MurraytheDemonSkull for finding this deal.

Additionally, the base prices of all Tesla vehicles have been reduced. The base Model 3 is now $43,990, which is $3,000 lower than before. The Model 3 Performance is now $53,990, which is $9,000 lower than before, and now qualifies for the tax credit.

Editor's Notes

Written by RazorConcepts
  • This is $13,000 lower (19% savings) than the previous base price.
  • Factoring in the tax credit, the price of the Model Y today is $20,000 less than one purchased in December 2022.
  • To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
    • $300,000 for married couples filing jointly
    • $225,000 for heads of households
    • $150,000 for all other filers
  • The tax credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
  • Refer to the forum thread for additional deal discussion.

Original Post

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12.3K Comments

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Jan 13, 2023 12:54 PM
3.2K Comments
Joined Jun 2007
nicemannJan 13, 2023 12:54 PM
3.2K Comments

Our community has rated this post as helpful. If you agree, why not thank

Quote from supren View quoted comment :
2022 is irrelevant at this point.
if you buy now (keep price under 55k for 5 seater) and meet AGI (<300k for married) and your 2023 tax due must be >7500.
then you can get 7500 when you file 2023 taxes in 2024.
Not true. You can use your AGI from the prior year also. Please make sure you understand the rules before giving advice. Just adds to the confusion.

"You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in 1 of the two years, you can claim the credit."

https://www.irs.gov/credits-deduc...3-or-after
2
Jan 13, 2023 12:55 PM
339 Comments
Joined Apr 2008
ewb110Jan 13, 2023 12:55 PM
339 Comments
Quote from kcny View quoted comment :
Is Enhanced AutoPilot always included in Model 3/Y as the base model? Now it's a 6000 option.
Shell game with Tesla.
Jan 13, 2023 12:55 PM
565 Comments
Joined Dec 2007
lolololololololJan 13, 2023 12:55 PM
565 Comments
Quote from supren View quoted comment :
2022 is irrelevant at this point.
if you buy now (keep price under 55k for 5 seater) and meet AGI (<300k for married) and your 2023 tax due must be >7500.
then you can get 7500 when you file 2023 taxes in 2024.
The IRS site says you can use your AGI from 2022 or 2023
Jan 13, 2023 12:55 PM
3.2K Comments
Joined Jun 2007
nicemannJan 13, 2023 12:55 PM
3.2K Comments
Quote from jdang7891 View quoted comment :
It has to be in the same year that you bought the vehicle in order to qualify
Not true. Read my comment above.
Jan 13, 2023 12:55 PM
2.6K Comments
Joined Oct 2008
NoSleep007Jan 13, 2023 12:55 PM
2.6K Comments
What's the maintenance cost like? Concerned about the battery overtime and my place of living is very difficult to charge.
1
Jan 13, 2023 12:56 PM
3.2K Comments
Joined Jun 2007
nicemannJan 13, 2023 12:56 PM
3.2K Comments
Quote from iamharsh View quoted comment :
Thanks for the clarification. Does it work if I meet the AGI (<150k for individual) requirement in 2022 and not in 2023?
Yes it will.

"You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in 1 of the two years, you can claim the credit."

https://www.irs.gov/credits-deduc...3-or-after
Jan 13, 2023 12:56 PM
17 Comments
Joined Mar 2018
jdang7891Jan 13, 2023 12:56 PM
17 Comments
Quote from nicemann View quoted comment :
Not true. You can use your AGI from the prior year also. Please make sure you understand the rules before giving advice. Just adds to the confusion.

"You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in 1 of the two years, you can claim the credit."

https://www.irs.gov/credits-deduc...3-or-after
That page is not found.

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Jan 13, 2023 12:57 PM
373 Comments
Joined Jun 2014
mevorabuddyJan 13, 2023 12:57 PM
373 Comments
This is tempting
Jan 13, 2023 12:57 PM
4.8K Comments
Joined Jul 2010
gezzuzzJan 13, 2023 12:57 PM
4.8K Comments
Good thing they cut the middle man... lol
Jan 13, 2023 12:57 PM
3.2K Comments
Joined Jun 2007
nicemannJan 13, 2023 12:57 PM
3.2K Comments
Quote from jdang7891 View quoted comment :
That page is not found.
I just tried it again and it loads fine for me.
Jan 13, 2023 12:59 PM
4.5K Comments
Joined Nov 2015
dshopprJan 13, 2023 12:59 PM
4.5K Comments
Quote from StevenS7958 View quoted comment :
So in order to get the tax credit can make more then 300k if married
less than 300K if married and filing jointly.
Jan 13, 2023 12:59 PM
320 Comments
Joined Nov 2006
helloroadJan 13, 2023 12:59 PM
320 Comments
I would say It is the first shot of 2023 auto market and other automakers will follow up soon.

Just hold off😄
Jan 13, 2023 12:59 PM
407 Comments
Joined Apr 2019
Tri1914Jan 13, 2023 12:59 PM
407 Comments
Quote from getme_frnd View quoted comment :
understood, but if 2nd car is available, do you still think it is worth ?
not questioning, but asking for review
I plan to keep the car for a long time (10 years) so I think it's worth it to have the flexibility but then again 4k is a lot of money 🤣
Jan 13, 2023 12:59 PM
932 Comments
Joined Jul 2016
mike312Jan 13, 2023 12:59 PM
932 Comments
Debating model 3 performance or mode Y LR. Planning to lease 2-3 yrs..

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Jan 13, 2023 1:00 PM
407 Comments
Joined Apr 2019
Tri1914Jan 13, 2023 1:00 PM
407 Comments
Quote from helloroad View quoted comment :
I would say It is the first shot of 2023 auto market and other automakers will follow up soon.

Just hold off😄
I think other automakers will unlikely decrease much if anything. This is more of a tesla problem, their cars are just priced too high
1

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