customer promotion

[floriatax]

I got 1099-MISC from Morgan Stanley because I received a $120 as customer promotion that I remember was  an incentive for deposit certain amount in my own account.  My questions are:

1)  Does this count a "manufacturer's incentive payment"?

2)  Does the $120 customer promotion involve an intent to earn money?  Should I answer Yes or No to this question on TurboTax?

[KeshaH]

No, this wouldn't count as a "manufacuturer's incentive payment". Bank promotions like this (where you receive money for depositing funds) are treated as regular taxable ordinary income.

You would answer "No" to the question about whether there was an intent to earn money. This question is determining whether the income you received should be reported on a Schedule C as business income. Since this isn't business income, you should answer No.