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Credit card rewards do not get a 1099 as they’re a rebate/discount on spent monies. Banking sign up bonuses usually do as they’re classified as interest.
by koolba 7y ago
Credit card rewards do not get a 1099 as they’re a rebate/discount on spent monies.
Banking sign up bonuses usually do as they’re classified as interest.
- icebraining 7y agoYeah, but the company spent the monies, and the employee got the rebate. Seems like an employment benefit to me.
- likpok 7y agoTravel status/miles are sort of similar. It’s a basic racket: the airline rewards you for steering your company’s money to them. It seems to be broadly acceptable but I agree looks pretty sketchy when you boil it down to the basics.
- deleted 7y ago[deleted]