We got a letter from insurance saying we had gotten $50 each (total $100) in rewards. We filed our taxes last week (1/27). Do we need to file an amended return or wait?

Forum|Forum|1 year ago
February 3, 2025
3 replies
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CatinaT1

Level 15

No, you do not need to amend. The IRS considers these account rewards to be rebates or discounts on purchases, and not taxable income.

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Motocross77

Level 2

I thought we might. The letter stated that it was considered taxable, but I wasn't sure with the amount, if it would be or not. I didn't want it to cause a delay or for our return to be rejected.

CatinaT1

Level 15

If you received a letter with the reward saying it is taxable, then yes, it needs to be included on your return.

Do not amend until your original return has been fully processed to avoid unnecessary delays. 

How to amend my return?

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We got a letter from insurance saying we had gotten $50 each (total $100) in rewards. We filed our taxes last week (1/27). Do we need to file an amended return or wait?

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