Originally Posted by
robbierob03
I'm not sure if this should be asked here or in the Citi forum, so mods please move as you see fit.
For anyone that received a 1099 from Citi for TYPs earned from a checking or savings account, would you mind sharing how much you redeemed them for in dollars? I'm trying to figure out how close to $600 the redemption value needs to be in order for a 1099 to be issued. I have 42k of TYPs eligible to be redeemed from a checking account, and a Prestige I can use to enhance the value.
I'm just trying to figure out if redeeming the 42k TYPs for $582 (12.5k of student loan rebates and 29.5k in AA airfare) is too close to any potential cutoff.
Citi doesn't use the actual redemption cost to determine whether to issue a 1099. They use some arbitrary valuation of a TYP points or AA miles to do so. In the case of AA miles, many people consider it to be a ridiculous valuation, but there's nothing you can do about that (other than not earning miles / points from checking / savings accounts, only from credit cards).