Originally Posted by
wise2u
I don't trust it, the way they value them, the 75k credit card bonus would be worth close to $7500.....x2 or 3 could cause big irs problems for us mile collectors.....just hope they dont start taxing the bonus offers.
Isn't there a limit where if they consider it a gift for their tax purposes that they would have to send you a 1099?...or is it $599 and above, like wages?
I've always thought it was $600 but I don't actually know that as a fact. I think I got that number in my head from seeing that "$600 winners and up" clerk at the ponies.
Win $550 and everybody's cool. Win $600+ and the Man gets a cut.
From reading one of the credit card threads, I've gathered that mileage bonuses on CC's do not generate 1099's, but mileage bonuses on bank accounts can.