Harry, I was replying to Jean, not you, sorry for the misunderstanding. And, I am only referring to gambling issues here, nothing to do with property as you are, completely different situation.
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Tax Issues
Thanks for the clarification. Here's what I see as the unifying concept (re treatment of rebates):
A rebate clearly isn't to be construed as income. However, if it's directly related to a tax-related transaction, then it does impact the tax accounting of that transaction.
For this reason, most consumer tax-rebates have no tax implication. But there's little question in my mind that rebates in connection with any type of tax-related transaction (not just property acquisition) need to be accounted for.
---In vpFREE@yahoogroups.com, <e_mayhorn@...> wrote :
Harry, I was replying to Jean, not you, sorry for the misunderstanding. And, I am only referring to gambling issues here, nothing to do with property as you are, completely different situation.
[Non-text portions of this message have been removed]
[Non-text portions of this message have been removed]