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Business & farm
The IRS made a determination that the Minnesota rebates would be treated as taxable income. Therefore you will have to report the 1099-MISC as other income on your federal tax return. The rebates will not be taxed by the state of Minnesota, so you should subtract it from your Minnesota taxable income in the Income Additions and Subtractions section of your state tax return.
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‎January 29, 2024
5:53 PM