[Consolidated] 1099s for miles & cash rewards from all banks
Feb 8, 2013, 7:59 pm
#691
Join Date: Nov 2010
Location: Traveling some where hopefully
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Feb 10, 2013, 12:34 pm
#692
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Still no 1099s from BankDirect for tax year 2012 (and least not that I've received). Anyone else? If we haven't received anything in the next 10 days or so, I don't think there will be any.
My wild guess is that BankDirect is rolling the dice with the IRS, figuring that they have at least a colorable argument for not issuing the 1099s. They must also know that issuance of 1099s would pretty much kill their whole business model with regard to the mileage products.
My wild guess is that BankDirect is rolling the dice with the IRS, figuring that they have at least a colorable argument for not issuing the 1099s. They must also know that issuance of 1099s would pretty much kill their whole business model with regard to the mileage products.
Feb 10, 2013, 9:37 pm
#696
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Feb 13, 2013, 12:45 pm
#697
Join Date: Nov 2009
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Feb 13, 2013, 1:10 pm
#698
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Join Date: May 1998
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Unless someone happened to receive a sufficient number of AA miles in 2012, the question of whether Citi will issue a Form 1099 may not be answered until this time next year.
Last edited by Andy2; Feb 13, 2013 at 5:21 pm
Feb 13, 2013, 1:55 pm
#699
Join Date: Nov 2009
Posts: 432
El Turi kindly responded to my PM, and it appears that he (and most of the others who responded to the 2012 Citi offer to receive AA miles after opening a bank account and using the corresponding debit card) actually received the AA miles in January, 2013 and thereafter. This Citi offer was made relatively late in 2012.
Unless someone happened to receive a sufficient number of AA miles in 2012, the question of whether Citi will issue a Form 1099 may not be answered until this time next year.
Unless someone happened to receive a sufficient number of AA miles in 2012, the question of whether Citi will issue a Form 1099 may not be answered until this time next year.
Feb 26, 2013, 7:18 pm
#701
Join Date: Aug 2010
Location: Dallas, Texas
Programs: AAdvantage - Platinum
Posts: 91
BoA Alaska Airlines Credit Card terms mention possibility of 1099.
Just received a snail mail offer on this but saw in fine print the following:
Bank of America may issue an IRS service form 1099 to you that reflects the value of such reward.
Has anyone actually experienced receiving a 1099 from BoA for a miles earning card? What amount in taxes should I expect to pay for 25k Alaska miles?
Bank of America may issue an IRS service form 1099 to you that reflects the value of such reward.
Has anyone actually experienced receiving a 1099 from BoA for a miles earning card? What amount in taxes should I expect to pay for 25k Alaska miles?
Feb 26, 2013, 7:22 pm
#702
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Last edited by PainCorp; Feb 26, 2013 at 7:32 pm
Feb 26, 2013, 7:31 pm
#703
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Feb 27, 2013, 1:15 am
#704
Join Date: Aug 2011
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Actually got this card today myself, but I'll be really peeved if I get a 1099. I guess it's possible since there's no spend, so it's not a "rebate." Closed my HA and transferred all the credit over as well.
Feb 27, 2013, 7:19 am
#705
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susmaryosep's post has been appended to this thread because the card offer is routine, but the possibility of a 1099 is buzzworthy.