Credit card promotion?

[matthewgene15]

I opened up a chase southwest rapid rewards credit card, and did the promotion that got me a $200 statement credit after my first purchase using the card. I wanted to no if this is considered taxable income or not? I never received any tax forms from my bank or the airlines, I called both the airlines and my bank and they don’t think it’s considered taxable because I had to first make a purchase to receive the credit (plus the annual fee of $69). They said I should contact a tax consultant so here I am. Thanks 

[Rachel_W]

No, the $200 statement credit you received is not taxable income.   Generally credit card rewards are viewed as discounts by the IRS, not income.   If considered income and not a discount, you should receive a Form 1099-MISC.