Do I have to pay taxes on rebates in this particular situation?

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  • Do I have to pay taxes on rebates in this particular situation?


Answer #1 | 15/12 2013 15:13
For an individual, no. If you purchased those items for business, you have to claim the rebates as you didn't really pay full price.
Positive: 54 %
Answer #2 | 15/12 2013 18:36
when you get a rebate the company is actually reducing the cost of the product, it is not income to you
Positive: 48 %
Answer #3 | 16/12 2013 08:32
If the $1,000 was a deductible item -- business expense or itemized deduction -- that you took a $1,000 deduction for in the year that you spent the money, you must report as income any rebates received in a subsequent year. In all other cases this would simply be a reduction in price on an item that has no tax consequences so it is not income to you.
Positive: 28 %

Possible answer

Do I have to pay use taxes on my ... Have you changed ... The information we provide may not apply to your particular situation or to the ...
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Positive: 54 %
... if you receive an unexpected tax ... you will have to pay. But you do have some ... professional advice for your own particular situation.
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Positive: 49 %
... Rebates / Excess Cash Back; Income Taxes ... a tax professional about your particular situation. ... you may have to pay income taxes on the ...
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Positive: 35 %
Consumer Response to Tax Rebates ... have future taxes reduced by substantially more ... financial situation this year, ...
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Positive: 12 %

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