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scripta said:   They issue the 1099 not when you earn, but when you redeem. So did you redeem your 2012 bonus in 2013 and did it exceed $600?
  I don't know if my redemptions exceeded $600, because the online records don't go back far enough.  This is my first 1099 MISC from Citi.  In previous years I didn't pay much attention to how much I earned or redeemed.

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lokimoki said:   scripta said:   They issue the 1099 not when you earn, but when you redeem. So did you redeem your 2012 bonus in 2013 and did it exceed $600?I don't know if my redemptions exceeded $600, because the online records don't go back far enough.  This is my first 1099 MISC from Citi.  In previous years I didn't pay much attention to how much I earned or redeemed.Are you sure?

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Redeemed 2013 ThankYou points  = 101,555
1099MISC =  $608.55

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Attempted to get another Student Loan Rebate check, but the website states "We are sorry, but there are currently no products available in this category."

Anybody else seeing the same thing?

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shawn96 said:   Attempted to get another Student Loan Rebate check, but the website states "We are sorry, but there are currently no products available in this category."

Anybody else seeing the same thing?

  
I called Citi, and they allowed me to redeem points for another $1000 student loan check, so apparently my concerns were unfounded.

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lokimoki said:   Redeemed 2013 ThankYou points  = 101,555
1099MISC =  $608.55

  Did you get this in the mail, or is it available online somewhere?

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lokimoki said:   Redeemed 2013 ThankYou points  = 101,555
1099MISC =  $608.55

  
That's quite odd for a few reasons, though I'm not doubting you. I don't think anyone else has reported this, and also I would expected to see $203x.xx based on the usual citi "conversion" rate

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lokimoki said:   Redeemed 2013 ThankYou points  = 101,555
1099MISC =  $608.55

  wow.. u didn't redeem for .01 per point???
ie: $1015.55

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yurgreat said:   
lokimoki said:   Redeemed 2013 ThankYou points  = 101,555
1099MISC =  $608.55

  wow.. u didn't redeem for .01 per point???
ie: $1015.55

My actual rate was higher than .01 -- combination of travel bonus + Amazon GCs.  The figures reflect .006.  I got the 1099MISC in the mail.  So far no explanation from Citi.

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1099Misc should be based on the points from the banking side, not credit card.  There are other 1099Misc threads for the past couple of years.

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c3 said:   1099Misc should be based on the points from the banking side, not credit card.  There are other 1099Misc threads for the past couple of years.
About 12,600 earned on the banking side.

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Is 1099 Misc unique to Citi bank or a tax requirement for all banks?
Using US bank credit card, I had earned more than $600 last year excluding $25 bonus visa prepaid card for every $100 redeemed but I did not get a 1099 Misc.
Do I need to consider anything before I file my taxes this year?

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Nishant1 said:   Is 1099 Misc unique to Citi bank or a tax requirement for all banks?
Using US bank credit card, I had earned more than $600 last year excluding $25 bonus visa prepaid card for every $100 redeemed but I did not get a 1099 Misc.
Do I need to consider anything before I file my taxes this year?

Generally a 1099 is issued only on bank (checking/savings) bonuses, not CC.

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lokimoki said:   
c3 said:   1099Misc should be based on the points from the banking side, not credit card.  There are other 1099Misc threads for the past couple of years.
About 12,600 earned on the banking side.

Dude, it's like pulling teeth with you. When did you redeem the banking bonus earned in 2012, and how much was it? Did you also redeem the 12600 in 2013, or only earned it? In my experience, redemption occurs in order of soonest-to-expire.

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scripta said:   
lokimoki said:   
c3 said:   1099Misc should be based on the points from the banking side, not credit card.  There are other 1099Misc threads for the past couple of years.
About 12,600 earned on the banking side.

Dude, it's like pulling teeth with you. When did you redeem the banking bonus earned in 2012, and how much was it? Did you also redeem the 12600 in 2013, or only earned it? In my experience, redemption occurs in order of soonest-to-expire.

In that case, the 1099MISC 2013 (from redemptions in 2013) is based on the banking bonus from 2012.

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lokimoki said:   scripta said:   lokimoki said:   c3 said:   1099Misc should be based on the points from the banking side, not credit card.  There are other 1099Misc threads for the past couple of years.About 12,600 earned on the banking side.Dude, it's like pulling teeth with you. When did you redeem the banking bonus earned in 2012, and how much was it? Did you also redeem the 12600 in 2013, or only earned it? In my experience, redemption occurs in order of soonest-to-expire.In that case, the 1099MISC 2013 (from redemptions in 2013) is based on the banking bonus from 2012.Like I said here, they issue the 1099 not when you earn, but when you redeem taxable points over $600. Bank bonuses are taxable.

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"Citi will issue you a 1099MISC if you redeemed over $600 ThankYou points for the year, but only if those points came from banking products, regardless of which years your points were actually awarded."

Thank you very much.

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lokimoki said:   "Citi will issue you a 1099MISC if you redeemed over $600 ThankYou points for the year, but only if those points came from banking products, regardless of which years your points were actually awarded."

Thank you very much.

  
That's what he said... still no answer on redemption side? This is some sort of a half-thought out "who's on first" sketch playing out.

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RushnRockt said:   
lokimoki said:   "Citi will issue you a 1099MISC if you redeemed over $600 ThankYou points for the year, but only if those points came from banking products, regardless of which years your points were actually awarded."

Thank you very much.

  
That's what he said... still no answer on redemption side? This is some sort of a half-thought out "who's on first" sketch playing out.

  So Earn is on first and Redeem is on second?  Certainly!

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got an email saying you can redeem points for purchases on your citi credit card.

eligible purchase categories:
dining, entertainment, utility bills, gas, grocery, drug stores.

but doesn't say what the redemption ratio is.
 

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yurgreat said:   got an email saying you can redeem points for purchases on your citi credit card.

eligible purchase categories:
dining, entertainment, utility bills, gas, grocery, drug stores.

but doesn't say what the redemption ratio is.

  it's been around for a while. 2,000 TY gets you $10, 50,000 for $250.
so 1/2 cpp.

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imbatman said:     it's been around for a while. 2,000 TY gets you $10, 50,000 for $250.
so 1/2 cpp.

  Disappointing, typical Citi garbage redemption rate for cash (other than the mortgage/student loan check). Not that I should have been surprised.

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what is your guys experience on using this for your mortgage? was it a hassle to call them and set it up?

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I bought a house and got a degree just so I can use my Thank You Points on a student loans and mortgage.

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So I called them and they said they'll send me a check... Do I send that check into the lender? Or bring it in?

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titan01 said:   So I called them and they said they'll send me a check... Do I send that check into the lender? Or bring it in?
  
I bet your lender would know.

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VerbalK said:   
titan01 said:   So I called them and they said they'll send me a check... Do I send that check into the lender? Or bring it in?
  
I bet your lender would know.

  
Hello, I am titan01's lender.

Yea, what he needs to do is make the check out to Eighnull Bank and deposit it into my hand.

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