Under this strained logic, every person on this thread who buys a Visa Gift Card and cashes it out at WalMart would need to file a Schedule C for the value of the points! Brilliant!

i am still waiting for you to distinguish the following scenarios from my earlier post:

Scenario #1 : You share a weekly restaurant meal with a friend. By prior arrangement, the friend later reimburses you for the cost of his/her share of the meal. You paid for the meal because you wanted to earn points.
Scenario #2 : Your friend frequently needs four tickets to upcoming concerts, but is allowed to buy only two tickets. By prior arrangement, you buy two tickets for him/her, and the friend later reimburses you for the cost of the tickets. You paid for the tickets because you wanted to earn points.

FTers are all going to need a lot of Schedule C’s!

Will we need to file a Schedule C for your valuable legal advice? Are we allowed to report that value as “zero”?