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kik
New Member

Does rewards programs where u spend money and get a % into your savings count as interest income? do I report that money under 1099 INT?

my bank did not give me a 1099 INT form
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DDollar
Expert Alumni

Does rewards programs where u spend money and get a % into your savings count as interest income? do I report that money under 1099 INT?

No, those rewards are considered rebates of amounts you spent, and are not considered taxable income.  You do not need to report it as income.

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1 Reply
DDollar
Expert Alumni

Does rewards programs where u spend money and get a % into your savings count as interest income? do I report that money under 1099 INT?

No, those rewards are considered rebates of amounts you spent, and are not considered taxable income.  You do not need to report it as income.

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