I did not receive one. Is it because I did not use my points? How much taxes are there for these points anyway?
I filled out mine, itās not a big deal but I certainly wouldnāt disregard it.
It probably depends on what Lucid values the points atā¦I have a bank account (savings) that instead of paying in interest, it pays in American Airlines Miles and I receive a 1099 for it every year. Took a quick look and for 2022 I received ~ 20,000 miles and received a 1099 for $82.
When interest rates were low it wasnāt a bad account and as of now I do not leave a lot of money in there. I initially did it due to a sign up bonus they had and just left it open vs closing it like I do with most account bonus type things.
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Apparently each point has a cash value of $.125.
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I wonder whatās the overlap of points & miles nerds and leasehackrs. Same concept: maximizing return on spending for the biggest rewards.
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Hot dam time to spend my 874k in points 
Iād imagine the Venn Diagram of LHāers and Credit Card Hackr / Doctor of Credit users is pretty overlapping. Obviously, youāve been on here for some time, if you havenāt seen it, LH has a pretty good though somewhat dormant thread on here regarding cc rewards / maximizing value:
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Anyone know anyone at Lucid in America who can help grease the wheels of Lucid Europe (HQ in Amsterdam) to help me get an awesome deal on a demo '23 Air Touring I found thatās perfect for me? Currently in Germany and trying to lease one of these bad boys.
Here is a Brand New referral code, never been used if anyone needs:
LLAC2WP9
Lol there sure are if you buy a used one.
The depreciation on these has been ridiculous.
Why would you buy a used one? 
i got an email to take my 23 pure in for some upgrade to make the surreal sound pro work better and they also took car of some repair campaign electrical items. asked them to work on the lag on the keyboard for which they did a reset of some sort. the sound is better i thinkā¦ there is less lag on the keyboard i thinkā¦ taking our other one in next weekā¦
also, they provided an enterprise mercedes eqe as a loaner for a week, really quiet insulated ride vs the lucid however that is all that i thought was better, the lucid has more space, better road manners and looks way betterā¦
Am i the only one who lolād
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Wait we now have to pay taxes for points? I havenāt gotten any 1099 from my CC companies yet. It seems unfair as points are not fungible assets and the rules to use them can be arbitrarily changed.
Thatās one particular example and isnāt to be construed as a blanket statement. The Bask Bank example is a form of a savings account that instead of paying interest, pays in AA miles.
If I speculate, that is most likely why I get a 1099 on that particular one.
I do not receive a 1099 for any other points / miles program that I am a member of which at the moment include, C1, WF, Chase, & Citi.
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Typically CC companies will pay the tax on your behalf as part of the cost of doing business, but it is absolutely taxed. It is not unheard of to get sent tax statements for points, or to pay tax for transferring points to airlines for example.
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Itās in the T&Cs of the Lucid referral program. I agree that itās BS, but I did fill out the form since I was expecting it. Looking back, I think Iād prefer if they just took my unused points awayā¦
I see. I donāt think CC companies can technically pay taxes on my behalf. I have always assumed that they treat rewards points as COGS or contra-revenue (much like discounts or rebates). They are tax deductible for the CC companies.
In the case of Bask Bank paying AA miles as interest, I understand why you would need to pay taxes on them as there are no purchases associated with the points. You would need to pay taxes on interest as you would normally. Itās interesting how they value those points.
I guess I am still surprised that Lucid would make their customers pay taxes since the points are associated with a purchase. That must mean that they logged the cost under a separate line item.
You get a 1099 from a CC?
I believe at least one of the major issuers has been sending them out for points accrued from credit card referral bonuses where they value the points >$600.
IAMAA, but I believe there is a whole set of IRS rulings on points as rebates and deductibility for the issuers when redeemed.