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Cash Back Rewards - Taxable? When?

by gjmc
2 replies
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Where is the line drawn for drop shippers, with regards to credit card cash rewards, or cash back rewards earned through sites like befrugal, ebates, mrrebates, etc?
#back #cash #rewards #taxable
  • Profile picture of the author dave_hermansen
    Originally Posted by gjmc View Post

    Where is the line drawn for drop shippers, with regards to credit card cash rewards, or cash back rewards earned through sites like befrugal, ebates, mrrebates, etc?
    Interesting question, and one I have never thought of. I'm not sure what it has to do with dropshipping any more than buying in bulk or anything else.

    Here's an article that discusses it, though - Are credit card rewards considered taxable income by the IRS? | Investopedia

    As it says at the end of the article, you only need to be concerned about it if you receive a 1099-MISC form from the credit card company.
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  • Profile picture of the author gjmc
    In the case of online arbitrage business, how does tax law apply to cash back from ccards, or cashback websites?
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