topic I put in a heat pump at my rental and got a rebate from the store is that income or does it reduce my basis? in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-put-in-a-heat-pump-at-my-rental-and-got-a-rebate-from-the-store-is-that-income-or-does-it-reduce/01/66312#M2382 Sat, 01 Jun 2019 02:04:31 GMT craryja 2019-06-01T02:04:31Z I put in a heat pump at my rental and got a rebate from the store is that income or does it reduce my basis? https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-put-in-a-heat-pump-at-my-rental-and-got-a-rebate-from-the-store-is-that-income-or-does-it-reduce/01/66312#M2382 Sat, 01 Jun 2019 02:04:31 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-put-in-a-heat-pump-at-my-rental-and-got-a-rebate-from-the-store-is-that-income-or-does-it-reduce/01/66312#M2382 craryja 2019-06-01T02:04:31Z A rebate from the store or manufacturer is a reduction of... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/a-rebate-from-the-store-or-manufacturer-is-a-reduction-of/01/66320#M2383 <P>A rebate from the store or manufacturer is a reduction of the selling price and, thus, a reduction of your basis in the asset.</P><P>It is not taxable income.</P><P>For more information, please see&nbsp;<A href="https://www.irs.gov/pub/irs-pdf/p551.pdf" rel="nofollow" target="_blank">IRS Pub. 551 Basis of Assets</A>.</P> Sat, 01 Jun 2019 02:04:32 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/a-rebate-from-the-store-or-manufacturer-is-a-reduction-of/01/66320#M2383 MichaelMc 2019-06-01T02:04:32Z