EV Credit vs. Section 173 Self-Employed in Tennessee
I am trying to figure out how to qualify for a tax write-off or deduction on the purchase of a new Tesla model Y. My husband has W2 income that is over the threshold to qualify for the personal EV $7,500 write off. However, I am a part-time real estate broker in TN, and I will be earning at least $25K in income (commission from a real estate sale) in 2023. Could my self-employment brokerage business qualify for the $7,500 tax write off? If not, would I want to consider a section 173 write off? My only concern there is depreciation recapture as well as the reality that business use of my vehicle is very minimal (vs. personal use) due to my part-time work. I'm also considering going back into employment full time next year (vs self-employment). Please advise! Thx
