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B
Bryan7Kim
April 5, 2025
Question

If I received a $1500 check from LADWP (Los Angeles utility provider) under a used EV purchase program. What form do I need to fill out to report on my taxes?

  • April 5, 2025
  • 1 reply
  • 0 views
Additionally, would this increase my magi or gross income?

    1 reply

    JohnB5677
    JohnB5677
    April 6, 2025

    Yes it is taxable.

    • It is taxable both on the federal and in California.
    • Normally rebates are considered a reduction in the purchase price of a product or service. 
    • However, because of IRC section 61: Gross income means all income from whatever source derived unless specifically excluded by law. 
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    B
    Bryan7KimAuthor
    April 6, 2025

    Thanks for the insight. Do you possibly know what form I should fill out?

    V
    Vanessa A
    April 7, 2025

    You would enter this as Other Income. 
     

    To enter your income from the utility provider click the following:

    1. Federal
    2. Income and Expenses
    3. Scroll down to Less Common Income and click Show More
    4. Start next to Miscellaneous Income
    5. Start next to Other Reportable Income

    This will put it on line 8z of your schedule 1 as other income. 

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