Do all 1099-Misc forms have to be reported?

[George Habator]

Hi, all.

I got points from my credit card this past year. According to the IRS, cc points are not taxable. However, the cc company just sent me a 1099-Misc form with a few hundred dollars listed in Box 3- Other Income for their decided value of the points.

Do i need to automatically report this since the IRS is getting the 1099? If so, i can list that amount on a schedule c line 1, with an equal amount on line 2, for no profit. Or i can ignore the 1099 and not list anything? Which should it be?

Thanks