Author Topic: American Express Sends Out 1099s for Referral Bonuses  (Read 4265 times)

Offline DealKiller

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #20 on: February 05, 2019, 11:45:17 PM »
Not a CPA, but donít see why not
What would we base the valuation on?

Offline LoLo

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #21 on: February 05, 2019, 11:46:35 PM »
The .6 that you get when redeeming for a statement credit.

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #22 on: February 05, 2019, 11:48:30 PM »
The .6 that you get when redeeming for a statement credit.
For Hilton points?

Offline LoLo

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #23 on: February 05, 2019, 11:53:38 PM »
Dunno, maybe the fact that you can get it for .5

Offline S209

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #24 on: February 06, 2019, 12:00:28 AM »
Dunno, maybe the fact that you can get it for .5
Thatís one example. I imagine another could be a redemption in which you get a lower value. Or an Amazon cashout screenshot.
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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #25 on: February 06, 2019, 08:48:10 AM »
Thatís one example. I imagine another could be a redemption in which you get a lower value. Or an Amazon cashout screenshot.
Why can't you argue that there's no real value since according to the t&c it's the property of Amex and they can take away the points any time?

Offline chinagel

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #26 on: February 06, 2019, 10:12:40 AM »
The .6 that you get when redeeming for a statement credit.
How exactly would you challenge it?

Offline S209

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #27 on: February 06, 2019, 01:21:20 PM »
How exactly would you challenge it?
Check this out
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Offline Malachi

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #29 on: February 07, 2019, 09:45:27 AM »
Iím surprised this thread isnít getting more attention
Denny Crane

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #30 on: February 07, 2019, 01:44:29 PM »
Iím surprised this thread isnít getting more attention
Well, discussion of referrals is not really allowed on the forums
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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #31 on: February 07, 2019, 01:49:35 PM »
I heard a rumor that the bloggers asked the banks to do this...

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #32 on: February 07, 2019, 02:03:12 PM »
I heard a rumor that the bloggers asked the banks to do this...
Thatís pretty funny. Where did you hear this?
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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #33 on: February 07, 2019, 02:06:55 PM »
Where did you hear this?
From the bloggers.  :P

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #34 on: February 07, 2019, 02:09:19 PM »
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Offline zagguru

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #35 on: February 07, 2019, 02:11:00 PM »
Anyone plan on deducting the annual fee to offset some of this?

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #36 on: February 07, 2019, 02:16:59 PM »
Anyone plan on deducting the annual fee to offset some of this?
Sure, but it had to have been necessary to obtain the referral bonus, you canít start deducting annual fees of all your cards because itís part of the hobby. Check out the comments on DoC that I linked to upthread
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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #37 on: February 07, 2019, 02:17:52 PM »
Sure, but it had to have been necessary to obtain the referral bonus, you canít start deducting annual fees of all your cards because itís part of the hobby. Check out the comments on DoC that I linked to upthread

Wouldn't you just deduct all the annual fees of the cards you referred from?

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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #38 on: February 07, 2019, 02:18:42 PM »
Wouldn't you just deduct all the annual fees of the cards you referred from?
Yup
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Re: American Express Sends Out 1099s for Referral Bonuses
« Reply #39 on: February 07, 2019, 02:19:48 PM »
Yup

Aside from Hilton, are there any other ones that we can dispute the valuation?

Anything else other than these two things we can do offset this?