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The consensus seems to be "not taxable" (at least at this time), with the caveats to:

1) make sure not to exceed retirement account contribution limits, and
2) further explore this question if your cashback is related to:
(a) expenses you take as tax credits or deductions
(b) expenses reimbursed by your employer
(c) determining the original cost basis

vkg linked to an interesting article:

Thanks for the feedback everyone...


p.s. The links to the other threads:

CCs and Consumer Debt:
Credit as a Tool:
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