MsTabbyKats Posted March 12, 2014 Report Share Posted March 12, 2014 Client made interesting comment..... She got cash back from her credit card and was expecting some sort of income statement. I never saw one and assume they don't exist. Is this a glitch in the system? Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted March 14, 2014 Report Share Posted March 14, 2014 So far they are not taxing it, it is basically just a reduction of the interest that the card company charges. Quote Link to comment Share on other sites More sharing options...
Kea Posted March 14, 2014 Report Share Posted March 14, 2014 From my own experience - cash back on my personal card is treated similar to a coupon that just reduced the price of the various items I purchased. Cash back on my business card is treated is a reduction to my expenses (usually supplies) since it reduced the price of the varies items I purchased and expensed on my Sch C. Quote Link to comment Share on other sites More sharing options...
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