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Forum Index : Gaming Industry - US : Messages

Author:	[Gaming Industry - US] Topic: winning & taxes
steve2412	View Space \| Friends \| Playbook \| My Sportsbook: 5Dimes \|
Prospect Joined: Feb 2013 Posts: 350 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	View Space \| Friends \| Playbook \| My Sportsbook: 5Dimes \|
Prospect Joined: Feb 2013 Posts: 350 Location: California	#2 Posted: 2/14/2013 2:36:13 PM thanks for all your help muffinman your truely the best -_-
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pjrez	View Space \| Friends \| Playbook \|
Veteran Joined: Feb 2007 Posts: 3810 Location: Maryland	#3 Posted: 2/14/2013 2:47:14 PM Send the IRS a check for 4500
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nick69	View Space \| Friends \| Playbook \|
Prospect Joined: May 2012 Posts: 238 Location:	#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	RSI View Space \| Friends \| Playbook \|
Legend Joined: Sep 2005 Posts: 36293 Location: United States	#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	View Space \| Friends \| Playbook \|
Prospect Joined: Feb 2013 Posts: 0 Location:	#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	RSI View Space \| Blog \| Friends \| Playbook \|
Captain Joined: Nov 2002 Posts: 6393 Location: Hawaii	#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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