Taxable income?
I received a rebate from my water company to defray the expense of removing my lawn and converting to desert landscaping. A clerk at my bank said the rebate check was "taxable income". I know that if I file the long form next year it will be offset. However, my disability income is low enough for me not to be required to file. Will this check change that? I spent the money on materials and some casual laborers to do the job.
Public Comments
- If your total income is less than the filing requirement amount, inclusive of the rebate, then there's no need to file and no tax on the rebate. The rebate is a payment for a service you renedered to reduce water consumption. It will not "offset" on any future tax return regardless of what form you file since water bills are not tax deductible on a personal residence.
