Chase 1099-MISC

[yosefsv]

#3- other income $600

Thanks.
(So its considered 'unearned income', which doesn't benefit the low income earners to receive a higher EIC)

[Abe100]

Got 1099 for a retention offer 🙄

There may be an argument to deduct the AF from the retention bonus amount.

e.g. your AF is 95 and you get a bonus of 125.00, taxable income would be only 30.00

[Yehuda25]

There may be an argument to deduct the AF from the retention bonus amount.

e.g. your AF is 95 and you get a bonus of 125.00, taxable income would be only 30.00

Right, just have to have the guts to do it and then potentially fight it out.

[Abe100]

Right, just have to have the guts to do it and then potentially fight it out.

Otherwise, why aren't rewards in general taxable? I guess we view them as a rebate, thus lowering the cost of a non deductible expense, not as new income. The same logic would apply to retention bonus.

On referral bonus you can't make this argument. Unless you are in the business of affiliate marketing and incur expenses to get the referrals

[Hamavin]

If someone is a dependant would $600 make them have to file there own taxes?

[yosefsv]

If someone is a dependent would $600 make them have to file there own taxes?

No

[Hamavin]

No

Tx...The person that files for them just adds it to his return?

[yosefsv]

Tx...The person that files for them just adds it to his return?

No.
as long as a dependent has less then $1050 in Unearned income (and no earned income) he does not file a return and you do not need to add it to your return.

(since this is considered unearned income their is no SS/Med tax to be deducted, and since the dependent earned just this their is no income tax due either)

[zagguru]

anyone know where one can retrieve this years 1099? Its not coming up online

[eternity88]

If you did not get over $600 you won't get one , it comes in mail only

[Deal Guy]

If you have 3 chase cards, and on each one you earned 20000 referral points, will you get a 1099 year end? Since neither card individually earned $600?

Or, the only way you won't get a 1099, is if you keep the total between all cards under 60000 points?

Same question for amex?

[oldguy]

If you have 3 chase cards, and on each one you earned 20000 referral points, will you get a 1099 year end? Since neither card individually earned $600?

Or, the only way you won't get a 1099, is if you keep the total between all cards under 60000 points?

Same question for amex?

Chase I don't remember, But Amex I got 1099's even below $600 per card (My total was above $600)