The IRS today, 2/10 issued clarification on the taxability of state stimulus rebates. Included in that determination, the energy rebate portion of the Alaska combined pdf plus energy rebate payment is not required to the reported as income. The state previously issued 1099-MISC indicating the combined amount, 3,284 in box 3. Below the 1099-MISC the "funding for the pfd dividends" it lists several items including "Resource Rebate = 662.19". So based on this IRS determination, I believe that the taxable portion of this 1099 is 3,284 - 662.19 = 2,621.81.
How do we enter this in TurboTax since the taxable portion is not listed on the 1099?
Will TurboTax be addressing this item in a future update?
