Cash rebates taxed?
Sorry if this is a long post, but couldn't really make it short. Went shopping for a new truck, and amazingly I found one that has pretty much everything I wanted, and very little that I didn't. ...
Forum Discussion
CarnationSailor wrote:.Chris Bryant wrote:
You are conflating sales and income taxes- a 1099 is for federal income tax.
Neat! I learned a new word today, "conflate". For those of you who also didn't know its meaning:
conflate : to fuse into one entity; merge
What I wonder is, if the dealer sends a customer cash, does the dealer have to do a 1099. It would not be taxable income to the buyer, but I wonder if the dealer is still required, to do a 1099.
If so that involves paperwork, maybe dealer just does not want the hassle. Don't know, but I would bet the dealer has some angle
