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March 22, 2021
Question

Are rebates deducted from the cost of a vehicle?

  • March 22, 2021
  • 1 reply
  • 0 views
I traded in my car for a new car. turbotax asks cost of vehicle (cash

1 reply

March 22, 2021

Yes, a rebate on the purchase of a vehicle reduces the cost of the vehicle.  The amount you would enter as the cost would reflect any rebate you received.  In other words, it reduces your cost.

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