Re: Are bank cash back "rewards" reportable/taxable? I didn't receive a tax form from my bank.

Are bank cash back "rewards" reportable/taxable? I didn't receive a tax form from my bank.

posted

No, if you bank cash back rewards are based on personal purchases, the cash back amount is not taxable income. Leeloo is correct about that.

If your cash back rewards are based on business expenses that you deducted, you should report your cash back rewards as "Other income" on your business return, or Schedule C.

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My name is on a Coinbase account as nominee for a partnership's crypto sale. The partnership receives all funds from crypto sales to its bank account, filed its 1065 & issued a K-1 to partners, including myself. How do I report on my personal return?

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Are bank cash back "rewards" reportable/taxable? I didn't receive a tax form from my bank.

Are bank cash back "rewards" reportable/taxable? I didn't receive a tax form from my bank.

Are bank cash back "rewards" reportable/taxable? I didn't receive a tax form from my bank.

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Are bank cash back "rewards" reportable/taxable? I didn't receive a tax form from my bank.

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Are bank cash back "rewards" reportable/taxable? I didn't receive a tax form from my bank.

Are bank cash back "rewards" reportable/taxable? I didn't receive a tax form from my bank.

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