do you have to claim it on your taxes? And what is the maximum amount you can win without having to claim it?
FH won $12,990 last year at the borgata, and the pit boss who was helping us said that we don't have to file it. He signed this document which what the manager said was for tax purposes for THEIR end. Pretty much so they know where those specific bills went to.
a friend of ours said anything over 10,000 has to be reported. Another friend said it has to be over 13,000.
He just did his taxes last weekend, and he didn't claim it. So now I'm wondering what's going to happen if he did end up having to claim it.
this s u c k s
jilliebean84
Posted:
Member since
Re: NWR: If you won money from a casino....
Yeah, I do know that you have to claim it, but I don't know the details of it! If you don't get any responses on here, FM norajo, she'll know.
JLWSJC
Posted:
Member since
Re: NWR: If you won money from a casino....
I read somewhere and my roommate who is an accountant also told me if you win more than $600 (SIX HUNDRED) You have to pay taxes on it
THOUSANDS of dollars tax free doesn't sound like our gov't....
i'm not sure what we're supposed to do now as he filed with turbo tax and they automatically sent it in to the IRS.
arg. this is why FH is not allowed to do taxes ever again LOL
JLWSJC
Posted:
Member since
Re: NWR: If you won money from a casino....
Isn't there a way to file an amendment since the deadline isn't up yet? IT might delay your refund if you were getting one.... but at least it would be done right...
I'm not at home, I texted my roommate to find out, but I can try to ask her when I get home tonight if she's there.
I'm going to fix his little mess, once I get back from running errands.
thanks again
JLWSJC
Posted:
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Re: NWR: If you won money from a casino....
No prob, glad I could help
FFsBride
Posted:
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Re: NWR: If you won money from a casino....
I don't know the dollar limit (or if there even is one) but you definitely have to claim a gambling gain. Only time u wouldn't is if u assigned it to a charity or organization upon winning it- came straight from my CPA book lol talk to your tax accountant!
jwleewedding
Posted:
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Re: NWR: If you won money from a casino....
i'm pretty sure you have to file taxes on them. my friend won 2K and he had to file that, so 13k is definitely a taxable item.
cc2011
Posted:
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Re: NWR: If you won money from a casino....
Posted by jwleewedding
i'm pretty sure you have to file taxes on them. my friend won 2K and he had to file that, so 13k is definitely a taxable item.
FMIL won 1800 and she had to file taxes on it.
kshea23
Posted:
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Re: NWR: If you won money from a casino....
thank you for all your advice ladies! I'm going to talk to the woman I'm a nanny for bc she works in an accountant firm and hopefully she can fix this for him.
It's just so strange bc the manager who had to come authorize the release of the money said that he did not have to file this at all. He never gave us any type of paperwork, bc according to him since we both came down with $8,000 that the only winnings would accumulate to $3,990 and that is well below the requirement by law.
ugh, I need a drink!
JLWSJC
Posted:
Member since
Re: NWR: If you won money from a casino....
Posted by kshea23
thank you for all your advice ladies! I'm going to talk to the woman I'm a nanny for bc she works in an accountant firm and hopefully she can fix this for him.
It's just so strange bc the manager who had to come authorize the release of the money said that he did not have to file this at all. He never gave us any type of paperwork, bc according to him since we both came down with $8,000 that the only winnings would accumulate to $3,990 and that is well below the requirement by law.
ugh, I need a drink!
Good luck, let us know what you find out! I can't imagine that the feds are gonna let you walk away with 4K you didn't have before without giving Uncle Sam his share, but I hope that's the case!
harts2976
Posted:
Member since
Re: NWR: If you won money from a casino....
I won 3 g's once, but it was not all on one hit. It was 600 here ,700 there.... they said if it wasn't all at one time I didnt have to. it was 4 years ago and nothing happen!! they will probably ask for it next year on TAX DAY--AKA my wedding day!! ahah
