I have been churning bank bonuses for over a decade now. This is the first year that I noticed that no 1099-INT was received for all of the bank bonuses earned in which debit card activity was a requirement for the bonus. So PNC Bank was a $300 bonus, all of which was tied to debit card activity, and no 1099-INT received. Credit Union One was a $200 bonus, of which $100 was tied to debit card activity, $100 was not, and therefore I did receive a 1099-INT but only for the $100. Finally, Old National Bank was a $200 bonus, all of which was tied to debit card activity, and therefore no 1099-INT was received.
I received over a dozen 1099-INT forms for 2018 and they are "off" by just these 3 examples above. I contacted PNC via their chat and learned that they will not issue a 1099-INT for the $300 bonus. The Doctor of Credit site has other data points of posters not receiving a 1099-INT from PNC as well. I presume that all 3 of these banks are treating the bonuses as a "rebate" (like credit card bonuses), and therefore no 1099-INT gets issued to me.
So having said all of that, would you treat the $600 ($300+$100+$200) from those bank bonus as taxable on Sch B, or as a "rebate" and pay no tax?
