I received a 1099-MISC from my bank for referring a friend to get a credit card. For referral I received 30000 points, and the 1099-MISC that I received has box 3 other income marked for $300.
When entering this info in Turbo Tax I select None of these apply under Does One of These Uncommon Situations Apply? However, I am not certain what to select for Did the Referral Bonus Points Involve an Intent to Earn Money? as my intent was to get the bonus points for referral.
I would sincerely appreciate if you would just walk me through how to enter this 1099-MISC.
1. Describe the reason for this 1099-MISC. I entered Referral Bonus Points
2. Does one of these uncommon situations apply? I selected None of these apply
3. Did the Referral Bonus Points involve work that's like my main job? The answer is definitely no.
4. How often did I get income for Referral Bonus Points? I only did this in 2023.
5. Did the Referral Bonus Points Involve an Intent to Earn Money? Not certain what to enter.
Thank you
