Do I have to pay federal tax for a water conservation rebate? And if so, can I deduct what I paid to get the rebate?

posted

The water conservation rebate is taxable for federal income tax purposes since it is not specifically exempt. All income is taxable unless an exemption exists for it on federal tax returns.

You cannot deduct the expenses associated with it, unfortunately.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

How do I report my 2023 NJ Anchor rebates on my federal 1040 if I was limited by SALT in prior years?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Do I have to pay federal tax for a water conservation rebate? And if so, can I deduct what I paid to get the rebate?

Do I have to pay federal tax for a water conservation rebate? And if so, can I deduct what I paid to get the rebate?

Get more help

Do you have a TurboTax Online account?

Do I have to pay federal tax for a water conservation rebate? And if so, can I deduct what I paid to get the rebate?

Do you have an Intuit account?

Do I have to pay federal tax for a water conservation rebate? And if so, can I deduct what I paid to get the rebate?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert