Question

CARMAX did not submit a Form 15400

Forum|Forum|1 year ago
February 19, 2025
2 replies
0 views

I purchased a used (2023) Chevy Bolt EV from Carmax in June 2024.

My return was rejected by the IRS as they couldn't verify my information.

I contacted CARMAX to get a copy of the report and they said that I wasn't eligible for a tax credit.

This doesn't make sense to me because at the time of sale I talked to the salesman about the tax credits.

My wife and I meet the IRS income requirements.

Question 1 - Were we eligible for a tax credit?

Question 2 - If so, what would it have been? $4,000 or $7,5000

Question 3 - Is there any recourse for us to sue CARMAX for the tax credit.

Thank you,

David Dutton

Not A Product Question

A

AnnetteB6

If you purchased a used vehicle, the maximum credit you could receive is $4000. It is based on 30% of the sales price up to $4000 maximum. The sales price must be less than $25,000 to qualify to claim the credit.

Take a look at the following information from the IRS to learn more about the used clean vehicle credit:

Used Clean Vehicle Credit

If you were qualified for the credit and the dealer did not register the sale with the IRS, I do not know of any recourse available to you.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

T

taxlady28

Here is a tool where you can enter your VIN to check for a credit

https://evlive.gm.com/live/ev-tax-credit

G

geordieonthewebAuthor

That link is for new vehicles.

Do you have any answers to my 3 questions?

A

AnnetteB6

1 - If your vehicle purchase price was less than $25,000, then you should have qualified for the used EV credit. If it was more than $25,000, then you do not qualify.

2 - The maximum credit on a used EV is $4000, but it could be less.

3 - I do not know of any recourse for CARMAX not filing the form if it was required.

@geordieontheweb

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"