FlyerTalk Forums - View Single Post - JPMorgan offers 60,000 points to sign up for its new Sapphire bank account
Old Sep 14, 2018, 6:20 pm
  #32  
mia
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Join Date: Jun 2003
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Moderator observation

Originally Posted by RedSun
This tax discussions is really a distraction....
The topic of taxable rewards for bank accounts is well understood. It is an important consideration to some people in evaluating an offer. I accept that it is not important to you, but it will still be discussed.

See this thread for years of evidence:

[Consolidated] 1099s for miles & cash rewards from all banks

It is also well established that credit card rewards are not taxed in the USA, because they represent a partial rebate of the amount spent. If Chase sent you a 1099 for a partial refund of your annual fee that would be an important policy change -or- a mistake. However, if you are unwilling to even look at the 1099 to identify the account that Chase referenced, there cannot be a discussion.

One circumstance that has caught some people out is that credit card referral bonuses are taxable. I will try to find a link to a discussion.

Last edited by mia; Sep 14, 2018 at 6:42 pm Reason: Add referral bonus information.
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