Taxes on Winnings - Las Vegas Forum

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How Are Different Types of Gambling Winnings Taxed? The IRS mandates the reporting of all gambling winnings as income This includes not just In the , gambling winnings are taxable as ordinary income irrespective of how much a person wins Gambling winnings are legally defined as the full

lady merlin lightning chase slot What is form W-2G? · 1 $600 or more in earnings; · 2 $1,200 or more in earnings from bingo or slot machines; · 3 $1,500 or more in earnings from In the , casinos are required to report winnings over a certain threshold to the IRS For instance, if you win $1,200 or more on a slot machine or bingo, or