Cash For Clunkers Taxable?

I was told the Cash For Clunkers rebate is taxable?
I didn't realize that it would be taxable. I was surprised when I found out.
Is it true?

asked by Guest in Buying & Selling | 4353 views | 08-28-2009 at 10:04 PM

A Cash For Clunkers rebate doesn't count as taxable income. And they arenít guaranteed loans, either. The government pays the dealers the rebate money, but you doní t have to pay further taxes on it. In fact, youíve ALREADY been taxed for this program, and your money helped someone else buy a car.

answered by Zulma | 08-28-2009 at 10:06 PM

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