[firehawk72]

GM still has about 140k of those $7500 credits left, so your good for a few years. One thing to make note of, it is not a refundable tax credit, so your total tax liability would have to be at least 7500 to take advantage of the full amount. Just noticed in the title it said "Federal tax Rebate" just making sure you fully understand what the tax credit is relative to a tax rebate (refundable tax credit)

Only if you find this persons example confusing (I know credits are kind of weird) pay close attention to line 44 on your 1040. That is going to be your tax liability. If line 44 is 7500 or above, you can probably take full advantage of the 7500 tax credit. As an example, if line 44 was 6500 last year, and you expect your taxes to be about the same this year, then you may only get back 6500 of the 7500.