Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Trending News

Promoted
**RM**
**RM** asked in Business & FinanceTaxesUnited States · 6 years ago

Why is Bank of America sending out 1099-INTs for bonus points when they have not been redeemed yet? Both bank and IRS had no answers.?

1 Answer

Relevance
  • jimbobsebring
    Lv 6
    6 years ago
    Favorite Answer

    They were earned in the last calendar year and that is considered earned income. When you use them has no bearing on this. For tax purposes the bonus points are income in the year earned not used. Shocked the bank could not explain this to you.

Still have questions? Get your answers by asking now.