I received a 1099-misc but my "earnings" were entirely in product points, not actual money to my bank account. Do I still need to report it as income?

jessica-gottesma · ‎June 1, 2019

The product points are used to purchase more things on the company's website with the points, which I then used mainly as samples to give out for my business. So, the total value of the points is listed in the 1099 as "other income", but I'm wondering if I actually have to pay taxes on it since it wasn't actually monetary commission.

IsabellaG · ‎June 1, 2019

Yes, if this is a credit that you are given as compensation, it counts as income, even if it isn't in the form of cash. You could deduct items that you purchased that you used as samples.

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I received a 1099-misc but my "earnings" were entirely in product points, not actual money to my bank account. Do I still need to report it as income?