This year I will most likely start to pay taxes on my winnings.
First question - How do you file your gambling winnings? Is their an extra form to get etc.. I use Turbo Tax..
Second - If I make 5k a year and I have lost 3k - I just report the 2k correct? Want to verify this.
Third - If I start paying taxes on my winnings now - and have not before - will they go back and try to look at older records to see if I did not report them before? Or just accept the fact that I am now.
Anything else I need to know would be appreciated as well.. thanks guys.
First question - How do you file your gambling winnings? Is their an extra form to get etc.. I use Turbo Tax..
Second - If I make 5k a year and I have lost 3k - I just report the 2k correct? Want to verify this.
Third - If I start paying taxes on my winnings now - and have not before - will they go back and try to look at older records to see if I did not report them before? Or just accept the fact that I am now.
Anything else I need to know would be appreciated as well.. thanks guys.
