I received Homeowners Tax Rebate in 2022 from NY State. Is this considered reportable income on my federal tax return?

[crusader0]

Is a homeowner's tax rebate reportable income on a federal return?

[MayaD]

Reduce the amount of property tax you claim as paid on your 2022 Federal Return .

Per IRS: Refund or rebate of real estate taxes. If you receive a refund or rebate of real estate taxes this year for amounts you paid this year, you must reduce your real estate tax deduction by the amount refunded to you.

IRS.gov

[rmurphy711]

How to reflect this in TurboTax? It appears I can only change this by reducing the amount reported on my 1098. 

[JosephS1]

That is correct.  Simply reduce the property taxes shown in the "Deductions and Credits" section of your entries by the amount of the rebate to equate to the net amount of property taxes paid for 2022.

@rmurphy711 

[rmurphy711]

Thanks. I got that from the bold type in the initial response, after I posted. Appreciate the clarification though. Have a great day.

[rmurphy711]

It appears that the IRS has changed their minds about having to report this? I read on Friday 2/10/23, of course after I've already filed, they said it's not reportable. Any one else have any clarification on this?

[ThomasM125]

The tax rebate is a reduction in property tax, which is not income. The only way it would be taxable on your federal return is if you itemized your deductions and deducted the original property tax amount. In which case you would have to add it back in as income. @rmurphy711