I have encountered a few issues with AMEX (and/or the outside company handling things for AMEX)after a big (>$600 "discount") winning purchase:
a) Thank you AMEX for the federal tax gross-up, but I am still left paying state income tax on the difference. b) AMEX will be sending a 1099-MISC to the IRS with my social based on a "Fair Market Value" of the Dell W2600 of $1999, when Dell itself (the only actual "market" for the product as far as I know) was selling it that day for $1499. c) Before they send your product, AMEX requires you to sign a "Liability, Publicity & Verification" Release which goes way beyond the Terms and Conditions of the WishList program. For those of you who care about such things, the AMEX attorneys agreed it was proper to delete Section 9 [Publicity], but stood firm on everything else, notwithsatnding their own terms on the web that govern the deal. Remember, these are discounted purchases, not contest prizes.
Of course, for the really big winners, none of this is going to matter. But for those products which merely represent a great/good deal, it may give you something to think about.
I've won nothing (and I've tried!) except Wish Certificates
1 Amazon (great one, used it!) 1 Saks (good, may use it) 1 Sheraton (waste) 1 FootLocker (ok, probably won't use it)
I'm really hoping for the IKEA wish certificate and the XM Radio -- I'm not even putting the BMW on the list. Though I do admit when it comes up I do try it and watch the AMEX website slow to a crawl
1 cappucino 1 golf bag kit (anyone want it lol) 1 sonoma throw 1 gc for Amazon 1 gc for borders 1 jacob the jewelers bracelet 1 contintental package 1 zen
OldManProsumer said: b) AMEX will be sending a 1099-MISC to the IRS with my social based on a "Fair Market Value" of the Dell W2600 of $1999, when Dell itself (the only actual "market" for the product as far as I know) was selling it that day for $1499.
Print off the Dell web page showing the Dell W2600 price. You can even wait until you receive it in case the price drops further. You may then adjust the 1099-MISC amount to the REAL fair market value on your tax return.
Did anyone figure out if you can get the Panasonic rebate with the D-Snap camera?
Rx5Zigen
Senior Member
posted: Dec. 18, 2004 @ 10:14p
Anyone that won the Jacob the Jeweler Evil Eye Diamond Bracelet decided that they don't want to keep it anymore. If you want to sell the bracelet PM Me. I'll Paypal Non-CC.
khangt
Member
posted: Dec. 19, 2004 @ 1:08a
anyone who doesnt' need his Saks gift cert. please give it to me. I'll pay the shipping cost Please. Thank you
jhughe90 said: OldManProsumer said: b) AMEX will be sending a 1099-MISC to the IRS with my social based on a "Fair Market Value" of the Dell W2600 of $1999, when Dell itself (the only actual "market" for the product as far as I know) was selling it that day for $1499.
Print off the Dell web page showing the Dell W2600 price. You can even wait until you receive it in case the price drops further. You may then adjust the 1099-MISC amount to the REAL fair market value on your tax return.
Thanks for the info! Does this mean that fair market value is not locked in with the purchase, as long as I can find similar to prove to the IRS?
1 nba trip (sold to fw'er) 1 nike golf bag (keeping) 1 sony tv (eBay) 1 american girl dolls (eBay) 1 williams sonoma throw (keeping) 1 jacob evil eye bracelet (eBay) 2 zen micro's (eBay) 1 tourneau watch set (keeping?) 1 belly vase (keeping?) 3 bellagio penthouse suite (time will tell) 4 myfi xm radios (1 for friend, 3 for eBay)
gc's:
5 Amazon (eBay) 3 bb&b (given to friends) 1 best buy (used) 3 borders (used 1, 2 given away) 3 Dell (used) 6 footlocker (used 1, 5 given to very surprised people on line behind me) 1 ikea (will use) 1 marriott (used to start bbq) 1 NetFlix (eBay) 3 saks (1 given away, 2 eBay) 2 sports authority (given away) 1 tourneau (nobody wants it) 5 toys r us (used 2, 3 undecided)
my only regret is i didnt find out about this thing until it was 1 week into it
sliqx88
Senior Member
posted: Dec. 21, 2004 @ 9:35a
if someone doesnt want their footlocker one, i could use it! =)
shrewdfool
Senior Member
posted: Dec. 22, 2004 @ 1:29a
my regret is not knowing Saks was worth anything.
and also, not finding out this existed until the Vespa and the Zen were gone already
Roadrunner
Senior Member
posted: Dec. 22, 2004 @ 8:14a
Man my connection must suck. Lousy DSL.
2 Best Buy Certificates 1 Amazon Certificates 0 Prizes
Priceless ... I am going to use my Visa exclusively for 1 year in silent protest.
jigglypuffy
Senior Member - 3K
posted: Dec. 22, 2004 @ 12:13p
13 Amazon - sold most 12 best buy - sold most 9 Dell - sold most 1 saks 8 toys r us - sold 5 sports authority - used 2 IKEA - sold
1 Zen 1 Espresso Machine - 1 Sony location free - cancelled my order
joe716
Shopaholic Member
posted: Dec. 22, 2004 @ 9:10p
So nobody won the A&K vacation. I really wanted that.
The A&K vacation seems like a good deal for the price AMEX was charging, but man, reading their site make you think these trips are obviously for too well-sheltered rich yuppies. Sampling of their almost degrading itineraries:
- "Chopstick usage lesson" for trips in China - "Pizza making workshop" for a trip that involved Rome, Italy...
Skipping 5 Messages...
khangt
Member
posted: Jan. 6, 2005 @ 11:05p
anyone has the Toy R Us WC that expires on 1/15 that you dont need, please give it to me. please PM me
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