Are Credit Card Rewards Taxable?
“Could you share some strategies for maximizing credit card rewards while minimizing tax liability?
Credit card rewards are generally not taxable. They are considered a rebate offered on the purchase price. There are a couple of exceptions: if there is no spending requirement to earn a reward, then it would be considered taxable by the IRS. For instance, a credit card offering a cash-back bonus just for signing up would be taxable.”