[oumed73118]

So when my Lucid that was ordered months ago is finally delivered in 2023 (or 2024) after I've already filed my 2022 tax return, how is this going to help me... and everyone else in the same situation?

 

[LucidFanSR]

So when my Lucid that was ordered months ago is finally delivered in 2023 (or 2024) after I've already filed my 2022 tax return, how is this going to help me... and everyone else in the same situation?

You can always file an amendment to your tax filing for a refund of 7,500 as applicable.

 

[evonthego]

Lucid just sent out this email on the tax credit:

Get your Lucid Air.
And your tax credit.

If you’ve been considering a Lucid Air and are interested in receiving the $7,500 EV tax credit,* now is the time to act.

This past weekend, the Senate passed the Inflation Reduction Act, which eliminates the $7,500 tax credit for sedans with an MSRP over $55,000. Once this bill becomes law, Lucid Air will no longer qualify for this federal tax credit.

So to help those who want to maintain eligibility for the tax credit, we’re opening a window where you can quickly place a reservation and convert it to an order before the bill becomes law.

If you choose to do so, your refundable reservation deposit ($300 for Pure, $1,000 for Grand Touring and Touring) will become a non-refundable order deposit.

As always, thanks for dreaming ahead with us.

The Lucid Team

 

[Lucid Dreams]

Lucid just sent out this email on the tax credit:

Get your Lucid Air.
And your tax credit.

If you’ve been considering a Lucid Air and are interested in receiving the $7,500 EV tax credit,* now is the time to act.

This past weekend, the Senate passed the Inflation Reduction Act, which eliminates the $7,500 tax credit for sedans with an MSRP over $55,000. Once this bill becomes law, Lucid Air will no longer qualify for this federal tax credit.

So to help those who want to maintain eligibility for the tax credit, we’re opening a window where you can quickly place a reservation and convert it to an order before the bill becomes law.

If you choose to do so, your refundable reservation deposit ($300 for Pure, $1,000 for Grand Touring and Touring) will become a non-refundable order deposit.

As always, thanks for dreaming ahead with us.

The Lucid Team

Definitely worth it to keep the tax credit on the car.

 

[pwjcw]

I was wondering if anyone has heard anything about the new 5% rule that the IRS has announced. I know that Lucid created this workaround to lock in the purchase if you converted to an order to try an preserve the tax credit. But in reading some text from the IRS, they are saying that the contract really is not binding unless you put down 5% of the purchase price at the time of the contract as well? Has anyone heard anything from Lucid? Seems like even though we entered into a contract, this is not sufficient to maintain us getting the tax credit after August 16th if we have an order but no delivery if we just put down the $1k.