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mary7
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In 2016 I received a rebate from taxes I paid on Canadian property sale in 2015 to the Canadian Revenue Service(CRS) Do I need to include that as income in my 2016 1040?

I have not received any tax assessment forms from them, but am worried that I may need to pay income on the rebate. Can you advise?
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1 Reply

In 2016 I received a rebate from taxes I paid on Canadian property sale in 2015 to the Canadian Revenue Service(CRS) Do I need to include that as income in my 2016 1040?

Let me start with I DON'T KNOW: I do know that's a tricky situation for most of us ordinary T-Tax users.

My first guess was that Yes, it was money you received and even though it was a rebate it was a payment that had probably been reported as part of the cost of selling the house so a reduction of taxable income. But upon closer reading I think the particular details of the sale, the tax, and the rebate might suggest otherwise.

I have a somewhat similar situation pending with a rebate received in 2017, that I thought might require an amended return for 2015. A T-Tax expert says No, count it as regular income for 2017, but I am going to check with IRS ASAP as the confusion arose on Friday evening. I recommend that you do the same.

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