Clean Vehicle Credit Dealer Transfers

Since January 1, 2024, buyers or lessees of electric, plug-in hybrid (PHEV), or fuel-cell vehicles eligible for the Clean Vehicle Credit (CVC) may transfer the credit to a dealer to reduce the purchase price or use it as a down payment. Buyers must provide a valid taxpayer ID and sign a certification confirming personal use within the U.S.. Dealers must certify vehicle eligibility and provide documentation. Taxpayers should store these records for their 2024 tax return filing.