Where do you input Visa Credit Card Rewards? I have no 1099K and questions are not applicable.

[Rachel_W · Accepted solution]

Credit Card Rewards are not taxable, so you do not need to input them in TurboTax.

[spenny1]

does this apply to business? ie, the original expenditures are business expenses. for business/ schedule C i have seen it suggested A. include it as other income B. do not include it as income but reduce your expenses by the amount of rewards

C. do neither A nor B 

[Opus 17]

If you purchase business supplies or services with a rewards credit card, the reward reduces your costs for those materials and services.  It’s not directly taxable income, but by reducing your cost, it increases your net profits (taxable income).   You are expected to keep accurate records of this even if the credit card does not issue a tax statement.  

[Critter-3]

Rewards are not income instead  they reduce your costs... they are considered discounts ... this is no different than returning an item and getting a credit on the visa statement.  In your bookkeeping system this is handled by reducing your CC charges.