Tax help on raffle winnings

Question

4-5 weeks ago was at a vender golf/fishing outing. After the meal we all had raffle tickets that we received with our admission paid by our individual companies.

I ended up winning the grand prize which was $2500 in flight vouchers. I end up getting them sent to me weeks later and it's a simple voucher with redemption codes.

I was told I needed to report this come tax time, and if so, am I able to write it off gambling/casino loss statements?

gimmedempoints · Answer

4-5 weeks ago was at a vender golf/fishing outing. After the meal we all had raffle tickets that we received with our admission paid by our individual companies.

I ended up winning the grand prize which was $2500 in flight vouchers. I end up getting them sent to me weeks later and it's a simple voucher with redemption codes.

I was told I needed to report this come tax time, and if so, am I able to write it off gambling/casino loss statements?

666LES · Answer

Just to be an @ss-hole but did the vender host have your ss# and did this win get reported to IRS?(did you fill out anything that connected you to the vouchers) If you didn&#x27;t file any W-2G form (gambling winnings) How would you off-set these with gambling losses?    Was this a lottery or more like a door-prize (income?).

gimmedempoints · Answer

It was a door prize...I gave them my name, email so they could send me the prize. I may have given them my address, I forget.Good point though, I never filled out a form or any sort.

666LES · Answer

I&#x27;ve been hammered on this site before BUT if IRS doesn&#x27;t know your ss# in this regards and this is really a doorprize (gift) and not a gambling win that can be off-set by losses,this would seem to be income(gift) and treated so. Now if you are the type to declare when you win the SuperBowl Square or have a Hot night at the Blackjack table then follow your conscience,but IRS doesn&#x27;t know a damn thing about these vouchers.I had a friend who won about$5k worth of furnishings/electronics on a TV show (The Right Price....something) and there were forms to fill as soon as the lights were low....not this case I assume.

Tax help on raffle winnings

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