https://www.tesla.com/modely/design#overview
Tesla Model Y
Dual Motor
All-Wheel Drive
Range: 330mi
Top Speed: 135 mph
0-60 mph: 4.8 seconds
Qualify for $7500 Federal Tax Credit with below income cap:
Adjusted Gross Income Limitations
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
QA Note: List Price Drop
Rear-Wheel Drive is $43,990
Dual Motor AWD Long Range is $48,490 Now $48,990
Extra Discount for already built ones, change to your zip code and check
https://www.tesla.com/inventory/n...&range=100
Please use
the referral link [ts.la] when you purchase one. Thank you!
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2,286 Comments
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If so, ALL buyers on the title must be below the income cap- so no they can't buy it "with you" to add eligibility for the credit.
They also can't buy it and then immediately "sell" it to you as there's now a 30 day holding period to try and enforce the "buying for purposes to keeping it not reselling it" rule.
You can of course wait 31 days and do that- but if their intent on purchase is doing that they'd be engaging in tax fraud.
Believe it or not comma.ai does not make or sell (and does not CLAIM to make or sell) anything that provides autonomous driving.
Folks ignorant of the difference between ADAS and autonomous probably shouldn't be making system recommendations to folks.
Commas system also lacks many of the capabilities Teslas most advanced ADAS system (fsdb) has, but it does cost more than $1450 of course. Commas system is more (but not precisely) comparable to the free basic autopilot Tesla offers.
https://www.cnn.com/2023/10/06/bu...index.html
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So first- I deeply appreciate the clarification- you're right you can let multiple people be on the title and then have only one, so long as they file separately, be the one who uses the credit and only they are evaluated for if they qualify based on income cap.
THAT said, it's important if doing this to insure the seller knows which person that is, because they have to report to the IRS who "bought" the car for tax purposes- IRS addresses that in the FAQ here, question 11:
https://www.irs.gov/newsroom/topi...%20vehic
The relevant bit:
So assuming say his dad qualified for the credit and was going to take it, they could both be on the title but they'd need to insure Tesla files his dad, not him, as the relevant person on the sellers report.
Doesn't bode well for your argument dude.
Today? When you file your taxes it offsets, dollar for dollar, your tax liability (see line 18 of your 1040). If your liability is less than $7500 then it only offsets whatever amount of liability you do have.
Jan 1 2024 you get $7500 off the price at time of purchase by signing over the right to the credit to the seller of the car and your tax liability no longer matters.
In both cases the max income cap still matters though (150k single or 300k married filing jointly) and if you're over the cap you get $0 credit. You can use your income from EITHER the year you buy or the previous year whichever is better for you.
No battery last forever so this car will end up as a typical appliance.
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