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Level 1
February 2, 2022
Question

is reward from a bank is taxable income?

I received referral bonus from my credit card and cashback when I refinanced my car. I'm not sure if I should claim them as my income? 

    2 replies

    Alumni - Intuit
    February 2, 2022

    Yes, your referral bonus from your credit card is taxable, but the cashback bonus is not taxable.

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    Mike9241
    Level 15
    Level 15
    February 2, 2022

    you may even get it reported on a 1099-INT.

    Mike9241