Are you supposed to report credit card rewards as other income on your taxes?

  • Thread starter Thread starter SUPERMAN
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SUPERMAN

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For example, Citibank has a credit card called "Citi Dividend Platinum Select". You get 1% cashback on all your purchases. Are you legally supposed to report the rewards you get back from this as income on your 1040? Even if it's a small amount such as about $200?
 
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