Sherry Whah, EASherry Whah, EA & Associates, LLC431 E 45th AvenueAnchorage, AK 99503-7303907.677.2977
Does any one have information on the proper procedures for filing an Alaska Housing Energy Rebate as non-taxable. When the Energy Rebates first came out I discussed this issue with the accounting and legal departments at Alaska Housing after I saw that they were issuing form #1099M to report the rebate to IRS as income. I argued that it was simply a reimbursement. Their standpoint was that it was taxable and it was required to be reported on form #1099M. I asked them to show me the requirement which they did not. IRS Pubs 551 & 525 suggest you can exclude an Energy Subsidies from income, without further instructions. What documentation or procedure do you use to file so that you do not receive a CP2000 or considered as an under-reporter?
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