I’ve hit the ref bonus limits with Amex and Capital One the past couple years and got 1099-MISCs for both. Looks like I’ll get another one next year too.
TurboTax is now trying to push this into Schedule C and treat it as self-employed income, which doesn’t really make sense to me.
This isn’t a business or anything formal, just personal activity that happened to generate income.
Anyone else running into this? How are you handling it on your return?
1099-MISCs from Credit Card bonuses – TurboTax wants me to call it a business
byu/Intelligent_Pie_5347 inCreditCards
Posted by Intelligent_Pie_5347
2 Comments
Referrals are always 1099 taxable that’s why I don’t do it I feel like that takes away any value I’d get from it
I had a couple of 1099-MISC on mine, from Amex. I remember having trouble finding where I was supposed to put it (the 1099-MISC option wasn’t immediately apparent), but once I found it it just went under my taxable income in Turbotax. It didn’t try to make me call it business income.