Employee

Question

Expenses with discounts.

Forum|Forum|7 years ago
January 8, 2019
1 reply
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I'm trying to find the IRS Publication that explains how to claim expenses that have a discount. I know you claim the actual amount paid (ie the discounted amount on your payment card statement) not what was on the receipt. I also know customer rebates, like cents back on your gas purchase with a loyalty card etc are not taxable. Someone asked me this question, and while I know the answer I want to be able to show where in the IRS Code I'm getting my information.

TIA

Employee

spouse died in february .do we enter the full payments made for insurance or the amount less the amount rebated?

same question for long term care hospital.

if we do need to report rebates where on the turbo form?

if you are asking about medical expense deductions, you'll report the net of what you paid as a deduction

is that what you are asking?

Employee

Do I enter the whole payment and also the rebate somewhere on the form?

Or, do I ignore entering the rebate and not entry of the rebate?

Or should I enter the net amount which would be payment minus the rebate?