It depends. If the following statements apply to your situation and the fees are simply being repaid to you for money you were already charged then nothing is taxable. Check with your bank to be sure why you received this rebate.
- A rebate of fees you pay such as ATM fees is just you getting back your own money. As is 'cash back' on credit card purchases.
- ATM rebates are refunds or reimbursements for ATM fees that are credited to a customer's account. Banks track fees charged over a statement cycle and then credit the total back to the customer's account.
If you are being credited for a rebate and you never paid ATM fees to your bank then it would be considered as miscellaneous income.
- Open your TurboTax Online/Mobile or TurboTax Desktop tax return
- Search (upper right) > type 1099misc > click the Jump to... link
- Begin your entry of the 1099-MISC.
- Be sure to select No this did NOT involve work and No it did not involve an intent to earn money
- Continue to complete this section.
@esjaybea
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