I love credit cards so much! v2.0 (see first page for add'l details)

[striker1064]

I don't get it, why start now? The only instance we have of this is Chase in 2017 who eventually ended up issuing corrected 1099s for $0 but some people went through a couple 1099s from Chase for their referrals before they got to $0. Chase obviously found reasons not to do this, and Amex previously found reasons not to, so WT$ went wrong with Amex this year?

Omg, if we go through all this to find out they had a computer glitch...

I know. It's so strange. Does Amex get a tax benefit from reporting these to the IRS in some way? The terms on referrals DO explicitly state that they may be subject to a 1099. Has that always been there? Is this just the RAT messing with everyone? Are they cackling and popping champagne today? The Hilton valuation at 1.25cpp seems especially crazy.

I know I maxed out referrals on a personal Plat and BRG, and I had scattered referrals on a couple other cards. I think I also got 2 Blue Cash referrals - I wonder if those will get a 1099 as well. Although that's only $75 each. DW had at least 3 or 4 MR referrals as well. We're probably looking at an additional $2k in taxable income. That's pretty unpleasant.

 

[LynnTH]

Anyone here a member on the churningmarketplace group over on reddit? It went private a while back and I sent a message to admin over a week ago with no responses. Need to do some trading ASAP and would appreciate some help.

I would like to know this also. Wondering how to get access. I would like to busy some AA Business mailers.

 

[wendow]

Think it's this one:
https://www.disboards.com/threads/monster-under-my-drivers-seat-agghhhh.912594/

Oh my goodness! That is stinking hilarious

 

[1st*toright]

Amex reportedly sending out 1099s for referral bonuses. Only one person so far but.... [insert bad language of your choice here] https://www.reddit.com/r/churning/comments/aloevw/discussion_thread_january_31_2019/efga3pz/

ETA: comments on reddit lots of people are getting them soon as seen in informed delivery. Appear to be going out for all cards folks. 1cpp on everything except for Hilton which is 1.25cpp.

Awww man - what a pain for so many people! I didn't have much in the way of Amex referrals. If they are really setting the threshold at the normal $600 (across programs) then I probably won't get a 1099. I really wanted to go ahead and efile my return today (the feds owe me $$$ this year), but now I think I should probably sit tight for another few days just in case. Bummer!

 

[wendow]

I would like to know this also. Wondering how to get access. I would like to busy some AA Business mailers.

Same!
I asked here yesterday but no one responded...don't think there are too many of us on the grAAvy train...Do you know if you use someone's mailer, will they stop getting them?

 

[Lain]

Wow, filing all of this away! I had no idea you could still go through a portal with an auction. Also the Gyft/MPX process, now that Gyft likes me. Mainly going Kroger this round because 4x FPs plus Discover is 16+% savings, but making note for when that's not around.

I’ve had Ebates track won auctions and buy it now as long as I activate before checking out.

 

[wendow]

Amex reportedly sending out 1099s for referral bonuses. Only one person so far but.... [insert bad language of your choice here] https://www.reddit.com/r/churning/comments/aloevw/discussion_thread_january_31_2019/efga3pz/

ETA: comments on reddit lots of people are getting them soon as seen in informed delivery. Appear to be going out for all cards folks. 1cpp on everything except for Hilton which is 1.25cpp.

I don't think I got any Amex support clicks but yikes!! That is nuts! Hope Chase doesn't follow suit.

ETA: Actually did get a Delta and a BCP...

 

[afan]

I don't get it, why start now? The only instance we have of this is Chase in 2017 who eventually ended up issuing corrected 1099s for $0 but some people went through a couple 1099s from Chase for their referrals before they got to $0. Chase obviously found reasons not to do this, and Amex previously found reasons not to, so WT$ went wrong with Amex this year?

Omg, if we go through all this to find out they had a computer glitch...

Has anyone on reddit called to find out?

Awww man - what a pain for so many people! I didn't have much in the way of Amex referrals. If they are really setting the threshold at the normal $600 (across programs) then I probably won't get a 1099. I really wanted to go ahead and efile my return today (the feds owe me $$$ this year), but now I think I should probably sit tight for another few days just in case. Bummer!

If they do that then I should be ok as well. I only had 2 referrals on my DL biz so a total of 20k miles. Though I've only seen mention of MR and Hilton, is it not counting on miles?

 

[gottalovepluto]

Awww man - what a pain for so many people! I didn't have much in the way of Amex referrals. If they are really setting the threshold at the normal $600 (across programs) then I probably won't get a 1099. I really wanted to go ahead and efile my return today (the feds owe me $$$ this year), but now I think I should probably sit tight for another few days just in case. Bummer!

$600 limit for issuing not being enforced, all referrals* appear to be getting them. Sorry https://www.reddit.com/r/churning/comments/alrn12/amex_1099_reporting_thread/efghi6b/
*we don't have a DL DP yet

 

[striker1064]

Has anyone on reddit called to find out?



If they do that then I should be ok as well. I only had 2 referrals on my DL biz so a total of 20k miles. Though I've only seen mention of MR and Hilton, is it not counting on miles?

Haven't seen any mention of Delta yet.

 

[gottalovepluto]

...Though I've only seen mention of MR and Hilton, is it not counting on miles?

SPG too. I expect we'll get the DL rate today as a lot of people have these in Informed Delivery. (Or we'll find out they didn't issue them for DL obvs. We can always hope!)

 

[mmmears]

On the mice thing, we have a pest person come quarterly. Never had a mouse in the house (that we saw evidence of anyway) but they ate my husband's new car, which was being driven daily and parked in our garage, a few years ago. They ate 10K worth of damage, luckily for us all covered by insurance. They must've been chomping on it for a while (in ceiling, engine, seats, etc, places we couldn't see) and we had no idea! Until DH saw some stuffing coming out where the seatbelts click in, in the back seat. Anyway, we live in a rural area with lots of field mice. I have a yellow lab that likes to catch them. And eat them.

We had a rat, or a mouse, in our garage years ago. It ate through all of our water bottles that we were storing out there (a few cases), then scraped the labels off of the glass ones trying to get to the seltzer water in those. He was unsuccessful in eating the glass, but luckily didn't go for our car! How awful! I had a pest guy come out and he said they need lots of water, that food is easy to find (no food in our garage), and that he/she wasn't getting in the house. I was still creeped out (and it was just the garage). He caught it, end of story, but you can't really keep them out if you open that garage door a few times every day.

Dh bought Disney gcs on raise today. It was spend over $100 to get $10 off. We spent $98 and got $110 in gcs. We plan to use them for meals while we are here. It’s roughly 11% savings

On a separate note, I got emailed a code for $3 off 10 Lyft rides. We are using a Lyft to get from yc to cbr today so it will cost us $4.50 lol. No way would I pay for a Minnie van when I can just do this

I think the Minnie Vans look cute, but yeah, they are asking way too much $$$$ for them. We used Lyft and Uber and it was so much cheaper. How'd you like the YC?

Amex reportedly sending out 1099s for referral bonuses. Only one person so far but.... [insert bad language of your choice here] https://www.reddit.com/r/churning/comments/aloevw/discussion_thread_january_31_2019/efga3pz/

ETA: comments on reddit lots of people are getting them soon as seen in informed delivery. Appear to be going out for all cards folks. 1cpp on everything except for Hilton which is 1.25cpp.

No. No. No. No. NO!!!! We have an appt to get our taxes done soon and we aren't going to wait until late March. This is pretty pathetic and a nasty move on their part. Here refer your friend. Please refer your friend. Oh, we didn't bother to tell you this will make your taxes a mess. I'm disliking AMEX these days.

Well, they would still like you to get their CC, just not through your friend so they have to pay them a commission... or, ya know, yourself. And if they can avoid paying the bonus on those cards, that would be swell too.
We want you to want the card, and want to use the card, cuz it's shiny. Be above all those material possessions such as points and miles, just enjoy the shiny... or this commissioned artwork

Well said.

 

[LynnTH]

Same!
I asked here yesterday but no one responded...don't think there are too many of us on the grAAvy train...Do you know if you use someone's mailer, will they stop getting them?

I thought (from Reddit people) that as long as someone else uses your mailer then you will still get them. If you use your own mailer then they will stop. Not sure if this is for both Personal and Business. I am not ready to blow past 5/24 to start on the Personal. We hover around 4/24 and 5/24 so we can keep getting Chase Business cards and some personal here and there.

 

[afan]

$600 limit for issuing not being enforced, all referrals* appear to be getting them. Sorry https://www.reddit.com/r/churning/comments/alrn12/amex_1099_reporting_thread/efghi6b/
*we don't have a DL DP yet

Well nuts but good for now I guess. I don't have anything from them in the mail but we're usually last to get stuff up in our corner. My mortgage stuff is there though which was I thought the last thing I needed.

Haven't seen any mention of Delta yet.

Fingers crossed though I imagine it's just a matter of time. I get it but at the same time it just doesn't seem right.

 

[wendow]

I thought (from Reddit people) that as long as someone else uses your mailer then you will still get them. If you use your own mailer then they will stop. Not sure if this is for both Personal and Business. I am not ready to blow past 5/24 to start on the Personal. We hover around 4/24 and 5/24 so we can keep getting Chase Business cards and some personal here and there.

Thanks! Good to know. I'm asking some family members who fly AA fairly regularly if they ever get the mailers but I wouldn't want to take theirs if it causes them to not get anymore.

I'm also not ready to get into the AA personal cards. I'm currently 5/24 and dropping to 4/24 in May. I want to go for another Chase biz card at that point.

 

[striker1064]

I get it but at the same time it just doesn't seem right.

Ehh kind of, I guess. I mean, this will sound weird because I have used the heck out of Amex referrals the last couple years so this will hurt me pretty bad, but at the same time it's hard for me to remove my accounting hat. This stuff was always taxable, it's just no one really enforced it before. It's like a bank bonus too. Even if a bank doesn't issue a 1099, you're still responsible. Arguably, the ethical grey area is for those who receive bonuses and don't report them. Points-based referrals are different because there's no actual cash, whereas with a bank bonus there's clear evidence it was received.

I dunno. It really stinks and I don't like it, but I understand why 1099s exist. The baffling part, of course, is why now.

 

[DisneyMandC]

@amalone1013 just went back through Reddit and realized you and I used each other's Hilton and SPG links. Guess we'll cancel each other out haha.

 

[striker1064]

Guess I'll wait to do my taxes since thr last thing I need is coming today but how would this work with a biz card? I add the rental to my reg properties so the same as that but so weird and annoying.

Was reading back through and just caught this, now THIS is an interesting question. We too have a rental property, and I always use real rental income on biz card apps. So I wonder, can one deduct the value of the 1099 from biz card referral bonuses against the gain/loss on the property? But then that's probably opening up questions about what you're using the card to purchase, and if it's not 100% biz-related that might not be smart.

 

[afan]

Ehh kind of, I guess. I mean, this will sound weird because I have used the heck out of Amex referrals the last couple years so this will hurt me pretty bad, but at the same time it's hard for me to remove my accounting hat. This stuff was always taxable, it's just no one really enforced it before. It's like a bank bonus too. Even if a bank doesn't issue a 1099, you're still responsible. Arguably, the ethical grey area is for those who receive bonuses and don't report them. Points-based referrals are different because there's no actual cash, whereas with a bank bonus there's clear evidence it was received.

I dunno. It really stinks and I don't like it, but I understand why 1099s exist. The baffling part, of course, is why now.

I get all that but the bank bonus has a real value to it right now where to me points and miles don't have a value until I actually do something with it and then that value can change wildly. 30k points at the Hyatt Vendome in Paris for a $700+ room great that same 30k points for a $500+ room in NY meh not as good. Or I could just redeem them for a gc, though I'm not actually sure Hyatt lets you do that. But the point is I can take the $100 out of the bank that I got from a bonus and spend it without thought because it's always going to be $100. Who says my 20k in DL miles is actually worth 200 bucks?

 

[afan]

Was reading back through and just caught this, now THIS is an interesting question. We too have a rental property, and I always use real rental income on biz card apps. So I wonder, can one deduct the value of the 1099 from biz card referral bonuses against the gain/loss on the property? But then that's probably opening up questions about what you're using the card to purchase, and if it's not 100% biz-related that might not be smart.

I wouldn't want to make it that complicated anyway. This year will be worse anyway because I've got to include the microwave I bought at Lowe's and had them pick up so I could use a lowe's offer on my biz card. Which there's another pickle, technically according to Lowe's I spent 212 and change or whatever it was, but then I got 10% back from amex. So technically I should probably only put what I paid however I'm not putting my credit card statement with my tax stuff and I have the receipt from Lowe's, so that's what I'll use. Plus I have to figure out when the renter's moved out and moved in because the rent changed so I lost 2 months but then do I do that at the old price or the new price. Maybe waiting to do them isn't so bad after all