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New Member
posted Jun 6, 2019 12:31:53 AM

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

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1 Best answer
Level 15
Jun 6, 2019 12:31:55 AM

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

2 Replies
Level 15
Jun 6, 2019 12:31:55 AM

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

Level 2
Mar 20, 2020 3:34:27 PM

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.