formerly known as daveland
Join Date: Oct 2003
Location: NY, NY, USA
Programs: Hyatt Globalist, Marriott LTP, Delta Platinum, Hilton Honors Diamond, Wyndham Diamond
Posts: 2,969
I don't see anyone discussing the tax implications.... Given that Citi now issues a 1099 when you redeem points (and based on just my personal current experience, Citi will 1099 against credit card bonus points - still waiting to see if that will eventually be overturned), what value will they use when you transfer to BA or SQ?
When I redeem flights they use the actual trip cost for the 1099. But given that they value AA miles at 2.5 cents on the banking side, will a 25,000 mile transfer be valued at $625?
Also - I wonder if these will be instant transfers (like Amex MR) or slow (like SPG) as that would make a huge difference to me. I personally see the best value for Avios transfers (since the change at BA) as being for short haul flights like LGA-YYZ.