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Author: [Gaming Industry - US] Topic: winning & taxes
steve2412 send a private message View Space | Friends | Playbook | My Sportsbook: 5Dimes |
steve2412
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Posts: 484
Location: California
#1
Posted: 2/14/2013 1:45:55 PM
so im new to gambling, got beginners luck hit a parlay and up 8500.

how does this work with taxes
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steve2412 send a private message View Space | Friends | Playbook | My Sportsbook: 5Dimes |
steve2412
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#2
Posted: 2/14/2013 2:36:13 PM
thanks for all your help muffinman your truely the best -_-
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pjrez send a private message View Space | Friends | Playbook |
pjrez
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#3
Posted: 2/14/2013 2:47:14 PM
Send the IRS a check for 4500
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nick69 send a private message View Space | Friends | Playbook |
nick69
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#4
Posted: 2/14/2013 4:54:56 PM
If it isn't on a W-2 or a 1099, it isn't income.
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Bling send a private message View Space | Friends | Playbook |
Bling
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Joined: Sep 2005
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#5
Posted: 2/14/2013 11:06:37 PM
QUOTE Originally Posted by nick69:

If it isn't on a W-2 or a 1099, it isn't income.
This advise will land you in jail
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Bballmaster send a private message View Space | Friends | Playbook |
Bballmaster
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#6
Posted: 2/19/2013 3:07:30 AM
I would also appreciate advice on this matter if possible. Thanks in advance!
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ShadowWarrior send a private message View Space | Blog | Friends | Playbook |
ShadowWarrior
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Joined: Nov 2002
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#7
Posted: 2/19/2013 5:36:47 PM
If it is in cash, do not report it.  If it is in check, then you will need to declare as income.
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