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Win streak/Tax deduct

Participants:

Posts: 3

alg48212

Prospect

Joined: Dec, 2009

Posts: 39

Posted: Nov. 7, 2013 - 2:06 PM ET #1

lets say someone does win that 100k for the streak of 25. my Question is What what be the tax deduction? what does uncle sam take

mrcsjhnsn

Prospect

Joined: Jan, 2009

Posts: 7

Posted: Dec. 13, 2013 - 11:28 PM ET #2

you'll have to submit a 1099... then they will tell you how much you owe... just put $30k aside to be safe

NOmoose

Captain

Joined: Oct, 2009

Posts: 5789

Posted: Dec. 17, 2013 - 7:43 PM ET #3

has anyone even won this yet? or the 25k one?

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Win streak/Tax deduct

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