Originally Posted by
Explorer789
Same. I have only paid taxes on form 1099-INT for bank checking bonuses. But since points are not a direct cash currency, it is exempt from being considered a cash payment, just like all the credit card signup bonuses.
I wouldn't be too sure about that. If you dig around in the Citi forum and google, I believe many Citi checking account bonuses that were paid in Thank You points did receive 1099-INTs. Also banking TYPs weren't transferable to partners. Now since I don't think Chase has ever done a UR related banking promotion, we don't know how they'll treat this, but I would go into it expecting to get a 1099 and them to assign a value of 1 cpp, since that's what the cash out value of UR points are and be pleasantly surprised if they don't issue 1099s.