Is it necessary to report Bank incentive?
Date: Wed, 02/02/2011 - 01:15
When we are opening an account is it necessary to report the bank incentive which we receive?
Hi! Welcome to the forums! No, I don't think there is any need t
Hi!
Welcome to the forums!
No, I don't think there is any need to inform the bank about the incentive, which you receive for your work.. Nevertheless, there is no harm in informing them about it.
Yes you need to report as the bank will send you a 1099 meaning
Yes you need to report as the bank will send you a 1099 meaning the bank is reporting the amount to the IRs as interest