If it is a rebate it would be taxable on your federal return, as it is not simply a reduction in the price of the vehicle and it is not paid out as a reduction of your state income tax. However, if it is a reduction of tax, it would not be taxable on your federal tax return. If taxable, you would report it in TurboTax as follows:
Go to the Income and Expenses section of TurboTax
- Choose Less Common Income
- Choose Miscellaneous Income, 1099-A, 1099-C
- Choose Other reportable Income
- Enter a description and the amount of your rebate
@sonicpoem
[Edited 3/23/22 at 11:02 AM EST]
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