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Thread: Casino winnings?

  1. #1
    Veteran Member miss cleo's Avatar
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    Default Casino winnings?

    Hey does anyone know if you pay tax on casino winings, thanks ?

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    Featured Member lemiwinks31's Avatar
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    Default Re: Casino winnings?

    Quote Originally Posted by miss cleo View Post
    Hey does anyone know if you pay tax on casino winings, thanks ?
    yes, you are supposed to.

    If the casino issues you a 1099(if they got your name, SS#, address, etc., they are probably planning on giving you one) then you should include it on your tax return, because the IRS will know about it.

    If they dont, you just got paid cash by the cashier and they didnt get your name or SS#, you are still supposed to claim the winnings, but in all reality, the IRS will never know about it.

    If you are going to add the gambling winnings to your return, keep in mind that you can subtract gambling losses up to the extent of your winning

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    God/dess Kylea2's Avatar
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    Default Re: Casino winnings?

    ^^^ I will second this. The IRS basically wants to know about ALL of your income.

    http://www.irs.gov/newsroom/article/...108277,00.html
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  4. #4
    Veteran Member miss cleo's Avatar
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    Default Re: Casino winnings?

    Many thanks x

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