New Ally Bank Bonus Offer

[QuarterMillionMan]

[james.hendrickson]

I love this - nothing like having cash in the bank.

[jenn_jenn]

Virtual high-five QMM! I got mine today too.

Now off to buy some CDs.

[Drake3287]

I'm really sort of surprised that Ally hasn't offered a 5% CD like Capital One did the other day. I would have thought people jumping ship would have had an impact with Ally. Time will tell....

[QuarterMillionMan]

Curious if this bonus is taxable? I've already filed my taxes but forgot to include this bonus (I did claim interest earned though).

[kork13]

Curious if this bonus is taxable? I've already filed my taxes but forgot to include this bonus (I did claim interest earned though).

Yes it is. Come tax time, the amount of your bonus will be included in your total interest earnings reported on the 1099INT.

[QuarterMillionMan]

Thank you Kork, I was sweating it thinking I'd have to do an amendment to my taxes which I've never done.

[kork13]

Thank you Kork, I was sweating it thinking I'd have to do an amendment to my taxes which I've never done.

Wouldn't be an issue anyway, this bonus interest was given in 2023, so it won't need to be reported on your taxes until next year.

I'm here to solve problems.

[QuarterMillionMan]

You're right, good point.