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Bumppo23

1040 Income Tax; credit card bonus from first use

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When one signs up for a new credit card, at times one receives a rebate or bonus for first use. Ought one to report that as income on one's Form 1040?

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IMHO, rebates no. Rebates are not new money to you. They are a refund of money you (over) paid, which is being returned to you because you are so good looking.

Bonus probably should be reported, unless it is a de minimus amount, which is an amount defined any number of ways for different purposes, from zero to ??? One of BenefitsLink's tax experts may give us a definitive answer.

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