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June 3, 2019
Question

Should I include credit card cash back income when I never received any 1099Ks?

  • June 3, 2019
  • 1 reply
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1 reply

Employee
June 3, 2019

A cash back bonus paid for signing up for the card (free money) is technically income, you would report this as "other uncommon income."  Some banks will issue a 1099-MISC but some don't.

Credit card cash back for ongoing use is not taxable.  It is treated as a discount of the merchant fee between you, the card, and the merchant.  Coupons and other discounts are not taxable income.