Hi, I am wondering about visa gift cards from Airlines. We were asked to move to another flight and given a visa gift card. Is this considered taxable income since it is a visa gift card that can be spent on anything or cashed out? Thank you!
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No, it's not taxable income, and you do not report it on your tax return. It's a partial refund of what you paid for your flight.
Is that the case even though it was more than what we paid for the ticket?
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