I purchased an EV and received a rebate check from the Minnesota Electric Vehicle Rebate Program. Do I report this as income on the 1040?

Forum|Forum|1 year ago
January 16, 2025
1 reply
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I emailed the MN department of commerce. They said they are sending out 1099s to everyone who received the rebate checks, but could not comment on whether or not the IRS considers it income. After doing some research, it seems for some states that provide this rebate, it is taxable and others it is not.

IsabellaG

Employee

Yes.

If you use the rebate on qualifying purchases, you will receive a Form 1099-MISC for the value of the rebate. This income is taxable on your federal income tax return, and will be reported as other income on your 1040. It won't be taxable on your Minnesota income tax return.

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