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vegas pros

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Prospect
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Joined: Oct, 2009
Posts: 214
Posted: #1
how much income tax do vegas pro sports betters pay the i.r.s. 
 
MVP
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Joined: Aug, 2007
Posts: 16348
Posted: #2
  $ 416.37~~~~~~~~~~~~give or take
 
Banned
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Joined: Oct, 2009
Posts: 1755
Posted: #3



I would assume it would be based on their stated income when they file their taxes like any other American.




 
Rookie
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Joined: Dec, 2006
Posts: 585
Posted: #4
Quote Originally Posted by VegasVeteran:




I would assume it would be based on their stated income when they file their taxes like any other American.




 
Prospect
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Joined: Jul, 2009
Posts: 86
Posted: #5
It depends on what they bet and the amount.
anything over 300x odds parlays/horses
cashing a ticket over 5k including initial bet raises flag
Just make several 1-2k wagers if you might go over
 

 
 
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Joined: Mar, 2010
Posts: 813
Posted: #6

dbart..........

$10K is the number for the W-9, $5k just gets the MTL. But, understand, this is a Title 31 issue and NOT a tax issue.

 

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