Can I post a question?

giraffepenguin — Sat, 22 Feb 2020 02:59:33 GMT

I installed a mini split heat pump with my solar panels. I got a $500 rebate from Efficiency Maine. My solar installer gave me a $250 rebate check when a friend installed solar cells. How are the rebates claimed? Are they reduction in cost or income?

Re: Can I post a question?

MinhT1 — Sat, 22 Feb 2020 03:49:22 GMT

A rebate received from a vendor from whom you purchased something is considered as a reduction of your purchase price.

A rebate from non-vendor sources is taxable income, which can be reported as Other Reportable income.

To report this income, open your return and follow these steps:

Click on Federal in the left-hand column, then on Wages and Income on top of the screen
Scroll down to All Income, locate the Less Common Income section
Click Show more and click Start next to Miscellaneous Income at the bottom
On the next page, click Start next to Other Reportable Income.

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Can I post a question?

Re: Can I post a question?