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jasonvw
New Member

I am receiving a buyback from Volkswagen for my diesel car. I am not purchasing a car at the dealer when the transaction is made and taking the cash, is this taxable?

I am receiving the cash option for my car. Is this taxable in Minnesota or federal taxes? I am not buying a car at the dealer that is taking my car.
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SweetieJean
Level 15

I am receiving a buyback from Volkswagen for my diesel car. I am not purchasing a car at the dealer when the transaction is made and taking the cash, is this taxable?

3 Replies
SweetieJean
Level 15

I am receiving a buyback from Volkswagen for my diesel car. I am not purchasing a car at the dealer when the transaction is made and taking the cash, is this taxable?

jasonvw
New Member

I am receiving a buyback from Volkswagen for my diesel car. I am not purchasing a car at the dealer when the transaction is made and taking the cash, is this taxable?

Yes, thank you for the link. I see the tax answers.
SweetieJean
Level 15

I am receiving a buyback from Volkswagen for my diesel car. I am not purchasing a car at the dealer when the transaction is made and taking the cash, is this taxable?

Didn't you see the paragraph titled Taxable or Not?
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