Help with 1099 MISC For Checking Account Cash Back

gakristi — Mon, 23 Feb 2026 13:16:49 GMT

I received a 1099-MISC from my bank. My checking account has the following feature:

"2.50% cashback on up to a total of $800 of debit card purchases. To receive monthly rewards, you must make at least 12 debit card purchases and have at least one ACH credit, such as direct deposit, that will post and settle to the account during the monthly cycle."

I received a 1099-MISC for 2022 with $207.47 in Box 3.

I'm trying to do my taxes and TurboTax Online is asking all sorts of questions about business name, accrual method, and material participation. This is NOT a job.. I'm very confused with these questions.

Re: Help with 1099 MISC For Checking Account Cash Back

KrisD15 — Sun, 05 Feb 2023 23:45:54 GMT

Since they reported it in Box 3, they are treating it as Other Income (rather than Interest or a Rebate)

You will need to add it to income, but it shouldn't be treated as Self-Employment.

Go back and edit the screens for the 1099-MISC

(Or delete it and start over)

Enter Incentive as the reason for the 1099

Select "This was a manufacturer's incentive payment"

Continue

This will be reported as Other Income on Schedule 1 line 8 and flow to your 1040 Line 8.

More information about Credit Card Rewards

topic Help with 1099 MISC For Checking Account Cash Back in Get your taxes done using TurboTax

Help with 1099 MISC For Checking Account Cash Back

Re: Help with 1099 MISC For Checking Account Cash Back