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Torn on whether to include Slickdeals reward points as taxable income

10 10 March 20, 2023 at 07:14 PM
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After speaking to a couple CPA's and doing my own research, it appears that any Slickdeals points accumulated from merely opening an account (with no spend requirement) is taxable income. It's tricky since the award is given as points, however, the points can easily be converted to cash. Does anyone have any additional guidance regarding this? I seriously doubt most people include points conversion in their taxes, but it happened to be on my list of bonuses I earned last year.
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slickjules
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Joined Jun 2005
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komondor
03-22-2023 at 11:17 AM.
03-22-2023 at 11:17 AM.
no 1099 means no tax since not reported is my thought!
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Joined Nov 2005
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> bubble2 38,252 Posts
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Dr. J
03-28-2023 at 12:37 PM.
03-28-2023 at 12:37 PM.
It's not 4/1 yet
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pr1nyc1
03-30-2023 at 10:04 AM.
03-30-2023 at 10:04 AM.
This can be treated similar to credit card reward points. The IRS treats these as rebates, not cash income. Therefore, for your case, it's treated as a rebate and not reportable.
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Joined Oct 2009
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pr1nyc1
03-30-2023 at 10:05 AM.
03-30-2023 at 10:05 AM.
Quote from komondor :
no 1099 means no tax since not reported is my thought!
I have a few clients that use marketplaces that dont offer a 1099. Just because you aren't issued one doesn't mean it isn't reportable.
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Joined Jun 2005
Let Sleeping Dogs Lie
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komondor
03-30-2023 at 12:10 PM.
03-30-2023 at 12:10 PM.
If you do not receive a 1099 then you reporting will trigger something on the end of where you say paid you. If you have less than 600 bucks and they do not report it why would you unless you have a loss for an offset?

here is a list of 1099 stuff
https://www.investopedia.com/fina...ir%20taxes.
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