For married couples filing jointly, what is the maximum modified adjusted gross income (MAGI) to qualify for the New Clean Vehicle Credit?

To qualify for the New Clean Vehicle Credit, the modified adjusted gross income (MAGI) limit for married couples filing jointly is set at $300,000. This income threshold is designed to ensure that the tax credit is targeted toward middle and lower-income households, effectively encouraging the purchase of clean vehicles among those who may benefit the most from this incentive.

The MAGI is determined by taking the adjusted gross income and adding back certain deductions that may have been applied. By establishing a clear income cap, the program aims to ensure that higher-income households, who may not need the credit as much, do not take advantage of this tax benefit.

While the other options present lower income thresholds, they do not align with the current regulations governing the New Clean Vehicle Credit. Therefore, the selected correct amount of $300,000 reflects the specifics laid out by tax law relevant to encouraging environmentally friendly vehicle purchases among qualifying married couples.