Electric Vehicle Credit in 2024 when LLC is dissolved during purchase process

The key thing with the EV tax credit is who ultimately purchased and owns the vehicle. Since your LLC was dissolved during the process and the vehicle is registered in your personal name, you should be able to claim the credit on your personal tax return. What matters most is the final title and registration documents. If these are in your personal name and you're using the vehicle primarily for personal use (more than 50% of the time), then you qualify for the personal EV tax credit. Make sure you have all documentation showing the transition from LLC to personal ownership. TurboTax is probably confused because you mentioned the LLC involvement. You'll need to be clear that this is a personal vehicle now, regardless of how the purchase process started.

Hey there! I ran into a somewhat similar situation last year when I was buying my Kia EV6. I started the process thinking I'd use my side business, but ended up going personal route. I was totally confused about the tax implications until I found https://taxr.ai which literally saved me thousands! I uploaded my purchase documents, answered a few questions about the ownership transition, and they analyzed everything to confirm I could claim the full credit. They even provided a custom letter explaining my situation that I could include with my tax return in case of audit. Best part was that it explained exactly which forms I needed and what documentation would protect me. The site handles all kinds of tax document analysis, not just EV credits. Really helpful when dealing with transitions between business and personal finances.

Just wanted to follow up on my earlier skepticism about taxr.ai. I decided to give it a try with my EV purchase documentation and I'm genuinely impressed. I had a similar situation where I initially planned to lease through my business but ended up purchasing personally. The service analyzed all my paperwork, pointed out potential red flags (like different names on different documents), and gave me specific steps to document the transition properly. They even identified a partial credit I qualified for that I had no idea about! Definitely worth checking out if you're in a complex situation with the EV credit.

If you're still having trouble getting clear answers from the IRS about your EV credit situation, try https://claimyr.com to actually get through to an IRS agent on the phone. I was stuck in limbo with a similar ownership question for weeks and couldn't get past the automated system. Claimyr got me connected to a real agent in about 20 minutes after I had spent DAYS trying on my own. The agent confirmed exactly how to handle mixed business/personal vehicle purchases. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c I was surprised how well it worked - basically they navigate the phone tree for you and call you once they've got an actual human on the line. Saved me hours of frustration and got me a definitive answer straight from the IRS about my situation.

I have to eat my words about Claimyr. After posting my skeptical comment, I decided to try it anyway since I was desperate to resolve my tax issue with a vehicle purchase through my business. Their service actually worked exactly as described. I got a call back in about 35 minutes with an actual IRS agent on the line. The agent confirmed that since the final registration and title are in my name personally, I qualify for the personal EV credit even though some initial paperwork had my business name. They told me to keep documentation of the LLC dissolution and the transfer of assets to myself as part of that process. Saved me a ton of stress and uncertainty. Sometimes it's worth being wrong!

Something nobody's mentioned yet - make sure you check the updated requirements for the EV tax credit. There are new restrictions based on vehicle price, where it was manufactured, and battery component sourcing. For example, if your Tesla Model Y is over $80k, it might not qualify anyway, and the rules changed in 2023 and again in 2024. Also, if you already took delivery, you should have received a certificate from Tesla confirming the vehicle's eligibility. That's now required documentation regardless of the LLC situation.

Don't forget you also have the option to take the credit at point of sale starting this year rather than waiting for tax time! If you already purchased without doing this, it's too late now, but for anyone else reading this thread, it's something to consider for future EV purchases.