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Author Topic: Income tax for signup bonuses  (Read 722 times)

Offline stern0m1

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Income tax for signup bonuses
« on: October 07, 2015, 01:27:42 PM »
Im looking for reliable information on if signup bonuses  for credit cards is taxable income, for frequent flyer miles and points. I have seen various posts claiming that its a rebate, but would like something reliable. Also i'm wondering if the rebate theory would apply with manufactured spending as essentially you're not really buying anything.

Thanks


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Offline noturbizniss

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Re: Income tax for signup bonuses
« Reply #1 on: October 07, 2015, 01:30:31 PM »
Quote from: stern0m1 on October 07, 2015, 01:27:42 PM
Im looking for reliable information on if signup bonuses  for credit cards is taxable income, for frequent flyer miles and points. I have seen various posts claiming that its a rebate, but would like something reliable. Also i'm wondering if the rebate theory would apply with manufactured spending as essentially you're not really buying anything.

Thanks
Do you get a 1099? It has been confirmed many times in many places that cc points are not taxable.
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Offline stern0m1

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Re: Income tax for signup bonuses
« Reply #2 on: October 07, 2015, 01:36:39 PM »
No 1099, but that doesnt exempt you from reporting.
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