{"id":4896,"date":"2021-08-22T09:04:03","date_gmt":"2021-08-22T09:04:03","guid":{"rendered":"https:\/\/www.irstaxapp.com\/?p=4896"},"modified":"2021-08-22T09:04:13","modified_gmt":"2021-08-22T09:04:13","slug":"redeem-credit-card-rewards-points-tax","status":"publish","type":"post","link":"https:\/\/www.irstaxapp.com\/redeem-credit-card-rewards-points-tax\/","title":{"rendered":"Redeeming credit card rewards points to cash is taxable: Court"},"content":{"rendered":"\n
Credit card rewards are the common motivation for people to purchase goods or services and get more receive reward points. When you use these credit card rewards<\/em> points to acquire further goods or services or even converting to cash, a natural question must arise ” How are credit card rewards taxed?”.<\/em><\/p>\n\n\n\n Now, these reward points are not considered till when you use the points to buy the reward of the good. The rationale behind this is that the rewards act as a discount on the consumer’s property or services. So, IRS does not try to tax such redemption of reward points.<\/p>\n\n\n\nCashback credit card rewards to a savings account ?<\/h2>\n\n\n\n