You'll need to sign in or create an account to connect with an expert.
[revised] You'll find a detailed discussion of the topic in this web reference from a CPA journal: http://archives.cpajournal.com/old/13928356.htm
Bottom line (assuming the article is still correct): If the cash rebate is from the utility company and not from the product's manufacturer or dealer, it is taxable. But if the rebate is in the form of a rate reduction or a credit on the utility bill, it is not taxable.
A cash rebate from the product's dealer or manufacturer is not taxable.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
dixieblossom@com
New Member
Paulhassell336
Returning Member
mal03281
New Member
hgtaber
Level 1
koeu91
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.