Do you pay taxes for your winning?

[FJY]

At the end of the year, let say you make some money betting on sports or poker, do you claim your winning with the IRS?

Just want to know how many of you do and don't.

For me, it's doesn't apply to me because I lost my ass off, and oh yeah, I do not get any refund from the IRS.

 

[MrCleo]

i take it that you missed our thread the other day. we hide the money under our backyard or in the attic to avoid paying it. :toast:

 

[MrCleo]

on a serious note, hiding any income gained from gambling from the IRS is only setting yourself up for a whole lot of trouble later.

 

[RDC-3]

all income should be reported but i highly doubt that most gamblers will claim their winnings on their taxes.

 

[Fishhead]

all income should be reported but i highly doubt that most gamblers will claim their winnings on their taxes.

Have reported all my winnings the past 15 years.

 

[RDC-3]

Have reported all my winnings the past 15 years.

if i were you I would too because I know youre making more than I am.In all honesty over the past several years I am way down so there would be nothing for me to claim.But if i were to make some , how would you claim it on the tax forms?Just put in the dollar amoutn where it asks gambling income?" is it that easy?thanks.

 

[thevietchamp]

Have reported all my winnings the past 15 years.

Hey Fishhead, do you prepare your own tax return or do you hire someone to assist you?

 

[thevietchamp]

Hey Fishhead, do you prepare your own tax return or do you hire someone to assist you?

Hey Fish, you alive? :howdy:

Just curious, if you don't do them yourselves and have someone else do it for you, who do you use?

 

[Fishhead]

if i were you I would too because I know youre making more than I am.In all honesty over the past several years I am way down so there would be nothing for me to claim.But if i were to make some , how would you claim it on the tax forms?Just put in the dollar amoutn where it asks gambling income?" is it that easy?thanks.

Yes, OTHER INCOME on LINE 21

 

[Fishhead]

Hey Fish, you alive? :howdy:

Just curious, if you don't do them yourselves and have someone else do it for you, who do you use?

http://forum.therx.com/showthread.php?t=447074