Originally Posted by TyPo311

I agree with havai above, the 1099k doesn't provide any detail on income that needs to be reported on your tax return, rather it shows you the amount of payments you received. The 1099k is a tool the IRS uses to help them understand what sort of payments business' are making to other business' or people. You should try to calculate the profit that you made on the giftcard sales and include that on your tax return. Keep in mind that after taking into account costs of acquiring the gift cards (driving, shipping, etc.) and costs to send the gift cards to Raise you might not have much income to report. I would say that credit card points or cash back wouldn't need to be included in income since there is no precedent for the IRS trying to tax credit card points on spend.