Anyone ever receive a tax form from their CC for the value of their points as taxable income?

[Mongoose]

I just got the new IHG Premier Card from chase and noticed this little number...

"Your participation in this program may result in the receipt of taxable income from Chase and we may be required to send to you, and file with the IRS, a Form 1099-MISC (miscellaneous income). You are responsible for any tax liability, including disclosure requirements, related to participating in this program. Please consult your tax advisor if you have any questions about your personal tax situation."

I'm wondering if it kicks in above $500 value or something similar?

 

[bogey21]

Maybe it has something to do with the revisions to the tax code last year...

George

 

[Timeshare Von]

From my CapitalOne FAQ:


Are my rewards subject to taxes?
Any rewards you have redeemed may be subject to taxes. To the extent required by law, certain rewards transactions may be included in year-end tax reporting. Payment of any tax liability is solely your responsibility. Please consult your tax professional for additional information.
###

With that said, I did not receive a 1099Misc from them.

 

[Timeshare Von]

A Google search turns out a lot of dated info (2017 is the most current):

Bottom Line: Most, But Not All, Rewards Points Are Tax-Free. When you have to purchase something to earn rewards points, cash back, or miles, the IRS considers that a rebate, not taxable income. Bank account sign-up bonuses and referral bonuses are taxable interest income or miscellaneous income.
###