Which Banks Send Out Tax Form 1099? (Discussion Post for 2024 Tax Forms)

January and the ensuing months are Form 1099 season! Each year there are interesting developments that happen with regards to banks issuing form 1099s for interest, bank bonuses, referral bonuses, etc. Remember that time when Chase considered 500 Ultimate Rewards points as $500 on the Form 1099? And they followed up in 2024 by considering certain credit card signup bonuses as 1099 income. I digress…

Most of the standard tax forms we’ll receive by the end of January, per federal bank rules. There are a few tax forms which are sent out in later months.

The comments here are a dedicated discussion post where we can discuss all things related to tax form 1099 for year 2024: when forms become available, which banks don’t send out 1099s, which earnings are supposed to be reported on the form 1099, referral bonus discussion, and any other weirdnesses that happen.

I’ll add in below any specific tidbits that catch my eye, and we’ll likely republish this post as things develop. If there is a significant story we’ll publish that separately as well.

Note, receiving a tax form or not receiving one has no bearing on your actual tax liability. This discussion is just to inform people on what to expect, when to look out for a form, check for any mistakes, remember to report something from a bonus that isn’t getting a tax form, etc. Consult a tax advisor about actual tax liability.

  • First Tech FCU included the $13 Financial Fitness Association payment they gave as Interest.
  • Northwest Federal Credit Union includes the $8 Kasasa rewards (a cashback bonus) each month on the 1099-INT.
  • Fidelity Bloom $30 match bonus was not included on the 1099
  • Reports are that Nasa FCU $300 promo will not be getting a 1099.
  • Report that Numerica CU $200 promo does not get a 1099
  • American Express sends out 1099s for referral bonuses and the Pay Over Time (and possibly other stuff) on a single 1099 form.
  • Chase 1099s Marriott points (for referrals) at 1 cent per point (1, 2)
  • Bank of America 1099s Alaska points (for referrals) at 1 cent per point (1)
  • Error on the 1099-MISC from WeBull; they are sending out corrected 1099s
    Chuck
  • On January 20, 2025, 11:21
Tags: 1099taxes

View Comments (889)

  • theoretically, does anyone know any friends who just gamble and don't report bank bonus income if they don't get a form?

  • Did anyone get 1099 for just $150 Robinhood promo last year? I didn't have any other investments with Robinhood and I have not received any 1099 from them yet.

    • That was the only thing I had with RH as well and received 1099-CONS with 1099-MISC showing that 150 bonus for 2K deposit.

  • Anyone attempt to start a “business” with all the credit card referrals? Trying to search for options to write off some of the 1099s and it would seem like there would be some merit when you have consistently made money for 5+ years.

    • 1099-MISC/INT aren't really income in the traditional sense. 1099-NEC are the ones reported on Schedule C along with the deductible expenses. Plus, you could be subject to self employment tax (the part that your employer pays) if profit is over $600.

      Other deductible ways are probably when itemizing, but the standard deduction is so high now, most don't itemize anymore. What type of expenses are you tryin to deduct?

  • This is not a 1099 issue but it's about a tax issue. I have a legit business and I did some work for a customer in 2024 and they didn't pay me. I did a search on the guy online and it looks like he filed bankruptcy. I was hoping somebody might have some advice about this kind of situation dealing with my tax return. Is there a tax form to fill out so I can write off the amount I charged him for the work? Do I have to go to small claims court because I would rather not do that because of the time involved in finding out what county he lives in, etc.

    • (not an accountant) If it was consulting work and you didn't get paid, what is there to write off? If there were expenses incurred, I assume it would just be expensed along with all of your other expenses of the year and thus reduce the profits of the business.

    • @guest_1994519 I had that happen once where a client didn't pay. Since they didn't pay, there is no income and you cannot write off time spent, only money spent getting the work done. It sucks. I started requiring 25% downpayment, and another 25% in the middle of projects.

      You can try to go after them in small claims court but if he already filed bankruptcy...don't know anything about that part.

      ETA: Out of curiosity, I did run across this: https://ttlc.intuit.com/community/business-taxes/discussion/please-help-unpaid-invoice/00/3554637

      I think some of it depends on what type of accounting system you're using. I'm doing a cash basis (non accrual) so I was s out of luck.

      • My accountant said what you said and I am also cash basis accounting. Since then I talked to my friend who said he had got to write off most of his by going to small claims(he did work and client didn't pay). The judge ruled for him and ordered the client to pay which they didn't, so he wrote it off as uncollectable. This happened to him years ago so maybe not an option anymore, I don't know. I'll have to ask my accountant if it's still an option and if it's worth it. Lesson learned. Thanks for the reply and the link @guest_1988810

  • I have 4 separate envelopes coming from Pathward today, according to my Informed Delivery. I'm 99% sure that these are 2024 1099s for my "Netspend" products. I guess that it's better late than never!

  • One of my brokerages did not report the $4000 bonus I earned for moving my stocks to them on my 1099-INT. I received the 1099 from them, but the $4000 was not included. Now I'm faced with the decision of whether to add an extra $4000 to the amount they sent on their 1099 when I file my taxes, or if I just ignore it since it was their mistake.

  • Is there a way to get a report from the IRS that shows any and all 1099 interest reported to them during a year?! Thanks!

  • Fulton Bank: My USPS Informed Delivery for today shows what I assume is the Corrected 1099-INT's for the full bonus amount.

  • I called US Bank about the biz checking bonus and the CSR found my 1099-INT and emailed it while I was on the phone.

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