• Rebate taxable or not?

    From Stan Brown@21:1/5 to All on Tue Nov 23 18:06:45 2021
    I'm separating the two issues relating to my solar battery, to keep
    things clearer.

    The other issue is that I get a rebate of $200 per kWh storage
    capacity under SGIP, the Self-Generation Incentive Program. Under this
    program, SoCal Edison, which administers the program, sends me a
    check. The battery is sold and installed by Semper Solaris, an
    unrelated company. The SGIP application form says that SoCal Edison
    "may" send me a form 1099, and the rebate "may" be taxable.

    I thought rebates were reductions of cost, not income. Will I need to
    include the amount of the rebate under income, and if so, where? Under
    "other income"? Or do I reduce the amount I report on Form 5695 as my
    cost by the amount of the rebate?

    I believe the money ultimately comes from the state. If it matters, I
    can find out for certain.

    --
    Stan Brown, Tehachapi, California, USA https://BrownMath.com/
    https://OakRoadSystems.com/
    Shikata ga nai...

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