Personal Finance and Investing

Indykatie

(3,853 posts)

27. $1005 Reported on 1099 as "Other Income" by Chase Bank

Fri Feb 22, 2019, 04:19 PM

Feb 2019

Chase sent some of their customers 1099s after 1/31/2019 reflecting the reward points that had been posted to their accounts. The problem on mine was that I didn't even accumulate $1005 in credit card charges in 2018 so there was no way I had earned $1005 in reward points. After spending an hour on the phone with various Chase departments I was told that many of the 1099s contained erroneous totals and that the issue had been elevated to the "highest levels" within Chase. That was 2 weeks ago and I haven't heard anything else.

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I got my refund already! [View all] A HERETIC I AM Feb 2019 OP

Similar things happened to me, so now at140 Feb 2019 #1

Yeah...there are some securities that take their damned sweet time in getting you a 1099. A HERETIC I AM Feb 2019 #3

My experience at IRS (late 80s) was that if under $400, they didn't bother.... lastlib Feb 2019 #21

Can you claim that as a gift rather than income? nt Snotcicles Feb 2019 #2

The bank sent a 1099-INT.... A HERETIC I AM Feb 2019 #4

Hey Buzz, I've been retired for a few now. Did some CDL instruction right after I hung that bar up. Snotcicles Feb 2019 #13

I'm gonna have to work till I drop dead!! A HERETIC I AM Feb 2019 #14

Do be very aware that if you start collecting SS before your full retirement age, PoindexterOglethorpe Feb 2019 #24

There's a couple problems with that scenario.... A HERETIC I AM Feb 2019 #25

I'm under the impression that COPD never gets better. PoindexterOglethorpe Feb 2019 #38

Thanks. A HERETIC I AM Feb 2019 #39

I am very glad to learn that, despite my ignorant misinformation, PoindexterOglethorpe Feb 2019 #40

I don't look at your submissions to this thread as at all ignorant. A HERETIC I AM Feb 2019 #41

You can probably forget it.They won't audit you for $16.00. brush Feb 2019 #5

No audit, but they will send a letter in mail at140 Feb 2019 #6

They're under staffed, over worked and behind because... brush Feb 2019 #10

No manual response required from IRS at140 Feb 2019 #11

Famous last words! LOL A HERETIC I AM Feb 2019 #7

Your tax software can spit out a 1099-X with ease. at140 Feb 2019 #12

Yup. The Turbotax home page has a link for it.... A HERETIC I AM Feb 2019 #15

Sorry, yes 1040-X.....nt at140 Feb 2019 #16

What the hell? Didn't you get your big ass refund??? marble falls Feb 2019 #8

Actually, this year was a little bigger than last, for some reason. A HERETIC I AM Feb 2019 #9

Late 80s, I worked in the cash unit at IRS service center. lastlib Feb 2019 #17

Kind of funny that actually happened! A HERETIC I AM Feb 2019 #18

I understood it was quite lively there. lastlib Feb 2019 #19

LOL! A HERETIC I AM Feb 2019 #20

Cash rinopa Feb 2019 #22

But they don't like hammers, toilet seats--or pennies. lastlib Feb 2019 #23

And there's the state that would need amended. mobeau69 Feb 2019 #26

Luckily, I'm in Florida.... A HERETIC I AM Feb 2019 #28

$1005 Reported on 1099 as "Other Income" by Chase Bank Indykatie Feb 2019 #27

Holy crap! A HERETIC I AM Feb 2019 #29

The points you earn on purchases aren't taxable yet. mobeau69 Feb 2019 #31

Interesting. A HERETIC I AM Feb 2019 #33

Elizabeth Warren and her replacement guy from Ohio at the CFPB were cleaning up the CC industry but mobeau69 Feb 2019 #34

How did my post above's subject line drop down to an additional line? I never noticed this before. mobeau69 Feb 2019 #35

This message was self-deleted by its author A HERETIC I AM Feb 2019 #37

Ahhh! Kentucky Jelly! A HERETIC I AM Feb 2019 #36

Do you know for certain that you owe additional taxes. The reason I ask is because you may not owe politicaljunkie41910 Feb 2019 #30

Short answer is no, I don't. A HERETIC I AM Feb 2019 #32