According to the IRS, a rebate related to the purchase of energy efficient appliances is not included in the purchaser's gross taxable income (see IRS Announcement 2024-19, under Rebates Excluded from Purchasers’ Gross Income.)
Further, under "Required Adjustments to Purchasers’ Basis in Property," the rebate is not included in the purchaser's cost basis. The example given shows that the amount of the rebate is deducted from the asset's original basis.
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