Gambling and Taxes

[rjoyner17]

Hello,

I am new to sportsbetting this last year. I made about 4,000 total in my wagers. I live in Arkansas and I used BETUS. They of course are an offshore sportsbook. Do I need to report these winnings to the IRS? Are these winnings taxable since I did this in an offshore account. Can someone please provide some assistance or advice?

Thanks,

Ryan

 

[Enfuego]

Hello,

I am new to sportsbetting this last year. I made about 4,000 total in my wagers. I live in Arkansas and I used BETUS. They of course are an offshore sportsbook. Do I need to report these winnings to the IRS? Are these winnings taxable since I did this in an offshore account. Can someone please provide some assistance or advice?

Thanks,

Ryan

Any income you make is taxable.

 

[Cheddarforme]

Call your accountant