CASH & POINTS OFFERS
|Citibank Thank You Points offers|
Thank You Points
Open the Citigold® Account Package for $100 cash or $50 for the Citibank® Account Package
NOTE: Citibank has been sending out1099’s reporting to the IRS an exorbitant value for the miles you receive for opening a bank account. The taxes you would pay on that value would probably be greater than the actual value to you of the miles. That being said, I opened a checking account and receive 20,000 AA miles in 2011 and DID NOT receive a 1099. My assumption is that my miles valuation by Citibank fell under the $600 value to receive a 1099. Also note, that there are no reports of Citibank’s credit cards generating a 1099, only checking accounts.
Recent articles on the subject:
- Los Angeles Times article on the subject.
- View from the Wing article on the subject
- Flyertalk discussion