330e Tax Credit Amount via IRS Updated Guidance

Phasers · 04-03-2023, 01:16 PM

The IRS released their updated guidance for EVs, and it looks like the 330e EV tax credit retroactively changed from $7500 to $5836 for vehicles purchased between January 1, 2023 to April 17, 2023.

Quote:

For vehicles placed in service before or on April 17, 2023, the credit is calculated as a $2,500 base amount plus, for a vehicle which draws propulsion energy from a battery with at least 7 kilowatt hours of capacity, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours, up to an additional $5,000 beyond the base amount.

As the 330e has a 12 kWh battery, this breaks down as $2500 + $417 + (7kWh in excess of the 5kWh threshold * $417) = $5,836 This amount is verified here as well.

For April 18, 2023 and later purchases it appears the tax credit will be a flat $3750 unless the 330e meets the battery sourcing critical minerals requirement.

zppp · 04-04-2023, 03:02 PM

Thanks for sharing. I changed my mind to order 330e mostly for the tax credit, it's sad to know that it's gonna be cut again.

rundeyvoo · 04-11-2023, 01:59 PM

Oh man... I didn't realize they were planning on cutting the tax credit for the 330e again. Contemplating getting one as a daily and one of the upsides is the tax credit. I may have to think about alternatives.

Amnesiac04 · 04-11-2023, 09:46 PM

I got really lucky and found a 330e a lot that met my specs, bought it today so that I'd beat the 4/18 deadline.

TurtleBoy · 04-17-2023, 11:05 AM

Unfortunately as originally expected, the 330e will no longer be eligible for any portion of the EV credit.

https://www.reuters.com/business/aut...ts-2023-04-17/

Amnesiac04 · 04-17-2023, 11:00 PM

For vehicles placed in service on or before 04/17/2023, some credits still apply:

https://www.irs.gov/credits-deductio...-2023-or-after

TurtleBoy · 04-18-2023, 06:39 AM

Quote:

Originally Posted by Amnesiac04

For vehicles placed in service on or before 04/17/2023, some credits still apply:

https://www.irs.gov/credits-deductio...-2023-or-after

Yes, that was the original post of this thread.

djmattbain.eth · 04-25-2023, 10:48 AM

losing the credit really changes the cost structure I was planning on when I ordered mine, really sucks.

04-04-2023, 03:02 PM	#2
zppp New Member 5 Rep 16 Posts Drives: - Join Date: Mar 2023 Location: Washington DC iTrader: (0)	Thanks for sharing. I changed my mind to order 330e mostly for the tax credit, it's sad to know that it's gonna be cut again.
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04-11-2023, 01:59 PM	#3
rundeyvoo Major 893 Rep 1,075 Posts Drives: BMW X5 / X3 / 330e / 330i Join Date: Oct 2022 Location: Magic Mountain USA iTrader: (1)	Oh man... I didn't realize they were planning on cutting the tax credit for the 330e again. Contemplating getting one as a daily and one of the upsides is the tax credit. I may have to think about alternatives.
	Appreciate 0 Quote

04-11-2023, 09:46 PM	#4
Amnesiac04 New Member 2 Rep 6 Posts Drives: (deposit 3/11) 330e Join Date: Mar 2023 Location: HOU iTrader: (0)	I got really lucky and found a 330e a lot that met my specs, bought it today so that I'd beat the 4/18 deadline.
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04-17-2023, 11:05 AM	#5
TurtleBoy General 13275 Rep 19,805 Posts Drives: 2019 X5 40i,2021 M340i Join Date: Jan 2019 Location: Colorado iTrader: (0)	Unfortunately as originally expected, the 330e will no longer be eligible for any portion of the EV credit. https://www.reuters.com/business/aut...ts-2023-04-17/ __________________ 2021 BMW G20 M340i xDrive - Verde Ermes/Black - 03/2024.40 2019 BMW G05 X5 xDrive40i - Phytonic Blue/Cognac - 11/2023.50
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04-17-2023, 11:00 PM	#6
Amnesiac04 New Member 2 Rep 6 Posts Drives: (deposit 3/11) 330e Join Date: Mar 2023 Location: HOU iTrader: (0)	For vehicles placed in service on or before 04/17/2023, some credits still apply: https://www.irs.gov/credits-deductio...-2023-or-after
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04-25-2023, 10:48 AM	#8
djmattbain.eth Private First Class 128 Rep 116 Posts Drives: 2023 BMW 330e xDrive Join Date: Nov 2022 Location: Chicago iTrader: (0) Garage List 2023 BMW 330e [0.00]	losing the credit really changes the cost structure I was planning on when I ordered mine, really sucks.
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