It seems our sign up bonus money is "income" to the IRS

For just about anything you want to get off your chest about credit cards.
11 posts
MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Jun 16, 2013 6:24 am

Yeah I know, I have a checking account that pays interest too, it's an amount that's so tiny I don't even want it, I got under a dollar in interest for last year, but the bank still had to send a 1099 with that 87 cents on it, and then I still had to add a dollar to my taxable income with rounding, so I paid probably half of it in taxes anyway, I wish they would just KEEP it I don't even want it. If there was an option to decline the interest I would. They may as well just pay it directly to the government.


Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 1 guest