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Hi, I checked the FAQ and tried to search the archives without luck.

Wells Fargo is offering 1% cash back on credit card purchases. (I wonder, do other banks offer more?) I pay $60/yr to a credit card company for receiving one mile per dollar now on my airline of choice. Roughly pre-tax those equate (1000 miles is worth about $10, though for some tickets a mile might be worth more than a cent).

Do I owe taxes on the airline miles? If not they are clearly the better deal. The cash back must be taxable.
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