Are refunds counted as taxable income?

[Foresty_Forest]

Are refunds counted as taxable income?
I've recently had to return a number of items bought through Amazon - have received refunds in full, paid back into my bank account.
Do I need to consider these refunds as taxable income?
Edit: The items bought would have been used solely for my business.

 

[StevensOnln1]

You usually deduct refunds from sales revenue.

 

[MyAccountantOnline]

Are refunds counted as taxable income?
I've recently had to return a number of items bought through Amazon - have received refunds in full, paid back into my bank account.
Do I need to consider these refunds as taxable income?
Edit: The items bought would have been used solely for my business.

No if it's refunded purchases/expenses you'd reduce the cost of those expenses by the amount of the refund.

 

[Newchodge]

If the item you bought has been returned and refunded you have not incurred any expense. To keep the bank statement reconciled you may still wish to enter the expense and then credit the refund back so the balance on that item is 0.

 

[DontAsk]

You usually deduct refunds from sales revenue.

No if it's refunded purchases/expenses you'd reduce the cost of those expenses by the amount of the refund.

Which will reduce your costs, increase your profit and tax, but they're not "taxable income" as such. They just put you back in the position you were in before you made the purchases.