Thanks for the response!
To clarify, I thought that you only had to pay taxes on Promotions when a person opens a Deposit Account (Savings, Checking... etc.). This was an Auto Loan, a Credit Account. Is it legal for my bank to declare this as Interest income in this case?
I feel it is the same thing as a credit card that pays you cash back for making purchases... They are not sending my 1099-INT forms for this same promotion...
