As was the case last year, American Express is sending out Form 1099-MISC to those who got referral bonuses over the course of the year. You’ll get a separate tax form for each Amex card which you referred from, and the form will state clearly which card its for.
I’m unsure if you’ll get a 1099 if your total referrals are less than $600. You’ll definitely get one even if your earnings from each single card is less than $600, e.g. if you earned $300 from one Amex card and $300 from another Amex card, you WILL get a 1099.
Amex is valuing the Membership Rewards points at 1¢ per point, as was the case last year. I assume Hilton points will get the same .67¢ valuation from last year, and all other currencies like Membership Rewards, Delta, SPG, and Marriott points at 1¢ per point.
Related:
can chat tell us how much we got? or do we need to call
P2 and I didn’t get any this year from Amex, I believe we both referred 55K total MR and that’s it. Should we assume if under $600 across all cards, you don’t get one? How would one check this?
Haven’t received my 1099, how can I get it online?
Got mine as well, 1 cent per MR point and delta miles, for 55k MR and 12.5k Delta miles
Did they send these this year as well?
Yes, just got mine today. MR points are 1 cent each. I got one form for each card that I referred from, though they came in the same envelope. None of the forms had $600 in referrals, but the total was over $600.
I still haven’t received an AMEX 1099. This was for 40,000 MR referral points earned on a Gold Business account. Closed the card mid-year. At this point is it likely a 1099 is not forthcoming?
I also did one or two referrals and haven’t yet gotten anything. Maybe some under $600 don’t get for some reason.
2nd this P2 and I both referred each other, for a total of 3 times between us so 200 and 400 and no 1099 (yet). I guess there’s no way to check Amex’s website? I don’t see an area for it. I certainly won’t call, then they will mail one out mid-July with an apology or something.
Looks like USPS Delivery Daily Digest just informed me I’m receiving a 1099 from AMEX 🙁
How much referral bonus did you get?
Received 1099 for total of $550 total referral’s is less than $600.
But with AMEX adjustments for the self referral it’s above $600, seems to answer why they added those points so they can send out 1099 as it’s above $600.
That’s a high valuation for the vast majority of their cardholders.
Just curious, why does it matter if 1099s are sent out? It doesn’t change whether you are supposed to claim it with the IRS.
Some have said they don’t agree with the Amex evaluations, so that would be a consideration for someone who isn’t interested in disputing the value.
They report the form 1099 to irs of course