Are Utility rebates taxable income?
Are rebates from utility providers income if sent as a cash transaction separate from the utility provided?
I have received this rebate from Southern California Edison in 2024 for having obtained a used electric vehicle. SCE calls this a rebate, but this was mailed to me as a check and not directly credited against an energy bill.
https://evrebates.sce.com/
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Answers
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Hello stevens,
The IRS has ruled that such incentives are nontaxable and you do not report it as income. Think of it this way. You use a coupon at a retail store or you apply for a cash-back discount on the purchase of a new TV. Do you have to report the discount or cash back as taxable income. No.
