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jcjesusislord
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I bought a used electric vehicle and got a $500 rebate. Do I need to claim that on my taxes?

 
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‎June 6, 2019 12:31 AM
last updated ‎June 06, 2019 12:31 AM
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TomD8
Level 15
Level 15

I bought a used electric vehicle and got a $500 rebate. Do I need to claim that on my taxes?

No.  A rebate is considered a reduction in the vehicle's cost, and is not taxable income.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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‎June 6, 2019 12:31 AM
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TomD8
Level 15
Level 15

I bought a used electric vehicle and got a $500 rebate. Do I need to claim that on my taxes?

No.  A rebate is considered a reduction in the vehicle's cost, and is not taxable income.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎June 6, 2019 12:31 AM
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Tax Newbie
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I bought a used electric vehicle and got a $500 rebate. Do I need to claim that on my taxes?

Hello TomD8, even if the rebate is received from CA?  Other community members have said that rebates received from CA are considered as income and should be reported on Form 1040 in line 21 as Miscellaneous Income under Less Common Income.

‎March 20, 2020 3:34 PM
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