IRS Form 8936 - Qualified Plug-In Electric Drive

the thing with tax software is that it only goes by the code. The IRS has volumes of regulatory decisions, which aren't really the black letter law. You actually have to fight them in tax court if you are brave enough to go against their non-binding reg's, but it does happen, & then the courts rule one way or the other.
I'm not saying one way or the other, but for us, we paid for - & the Tesla was titled in our (corporate) name on the 23rd of December. Even if we hadn't picked it up for a couple weeks, we'd still claim the credit, based on TITLE. A side note, there ended up being a faulty part that needed replacing. Had they noticed it before us, we wouldn't have taken delivery until warranty work was completed in 2017 because the module/ECU had to be ordered, & the work scheduled once the part was delivered. But we are/were still the legal title holders. As it was, we almost got it home into the garage before the defect/fault was noticed. We got our VIN weeks earlier - while the car was still being manufactured.
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As far as I know, there are no carryovers for personal credits. You use it the year you purchase it, or you lose it. If your tax liability is less than $4500, you get a credit only up to the amount of your tax liability, and you cannot carryover the unused portion into the next year. Withholdings throughout the year have nothing to do with anything, except if you want to manage getting your credit in the form of a larger paycheck throughout the year rather than a lump sum at tax time.

 

ha! that jogged my memory ... businesses enable carrying asset credit(s) including their phev's forward & back (presumes subsequent year asset ownership in the prior year) ...
26 CFR §1.30-1(b)(1)(i)
- so yes, but you're correct re personal tax credit.
It's good to be incorporated. Ever consider selling Amway? Tupperware? or reading tea leaves?

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I'm not a tax expert (not even close), but my reading of the instructions for IRS Form 8936 indicate that for personal use the credit of $4502 for the Prius Prime is added to any other tax credits (1040 lines 48-54). Your total tax credits (line 55) are then subtracted from your total tax (line 47) to lower your tax obligation. How much you had witheld doesn't matter, as the credit still either increases the amount you overpaid (line 75) or decreases the amount you owe (line 78). Am I missing something?

 

That sounds right - it's basically what I said two posts above this.