TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Solved

Focus Group "points"

Forum|Forum|2 years ago
April 5, 2024
2 replies
0 views

I've been trying to get an answer from SAGO/FocusGroup.com for months now but to no avail so I thought I'd check here.

My husband did a focus group with SAGO last year and accumulated around $900 worth of points but didn't redeem his points until February 2024.

He had to fill out a W9 during one of his visits to the office but we never received a 1099-Misc.

We do plan on reporting the income even if we don't receive a 1099, but the question is—will we have to report his rewards on the tax return for 2023 or the one for 2024 since he didn't claim his points until 2024 (and Virtual Reward Center also asked us for his SSN at the time of redemption of his last batch, which pushed him over the $600 threshold)?

I just want to avoid having to pay twice for the same amount (2023 and 2024) or have to pay a penalty for some procedural hiccups on their part.

Many thanks.

Not A Product Question

Best answer by PaulaM

If all of $900 in points were redeemed for cash in 2024, then that is the tax year to report the income.

Since he received his points in 2024, you will report this on your 2024 return.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

veritas44Author

Duplicate post

PaulaMAnswer

Employee

If all of $900 in points were redeemed for cash in 2024, then that is the tax year to report the income.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

veritas44Author

Thank you, so we don't get taxed based on when the points are credited to the account, but rather on when the points are redeemed for cash/gcs, etc.

Employee

Correct. Report the income on next year's return.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"