Jsfrye
Well-known member
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- #1
I weighing slightly used verse new. I need help understanding how the tax credit works. I know that after April 18, the MSRP needs to be under $80k and there are income restrictions. I get that part.
I need help understanding how the $7,500 works. Does this come off my taxable income? Or if I owe $8k and I get the $7,500 so I would owe $500? Or do I get back the $7,500 add to my return. Thanks for explaining it to me like I’m 5. I’m an IT guy and how taxes work is hard for me. Haha
I need help understanding how the $7,500 works. Does this come off my taxable income? Or if I owe $8k and I get the $7,500 so I would owe $500? Or do I get back the $7,500 add to my return. Thanks for explaining it to me like I’m 5. I’m an IT guy and how taxes work is hard for me. Haha
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