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Does anyone know anything about casino winnings taxes?

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Old 08-22-2009, 01:11 PM
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Default Does anyone know anything about casino winnings taxes?

I've been doing some brief reading online and it looks like the IRS charges 30% on winnings
Old 08-22-2009, 01:15 PM
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Yea if you report it. I think here in Oklahoma, they give you a tax form if you win anything over ~$1100.
Old 08-22-2009, 01:19 PM
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I've really screwed myself, because I've never recorded my losses. I've always been too inebriated lol. I wonder if the casino keeps records on my card.
Old 08-22-2009, 02:36 PM
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Originally Posted by GMCtrk
I've really screwed myself, because I've never recorded my losses. I've always been too inebriated lol. I wonder if the casino keeps records on my card.
From what I understand about the casinos in Oklahoma (Indian casinos). Anything you have to fill out is for their records, they don't report anything to the IRS about you. If you are supposed to fill anything out for the IRS, they will give you the necessary paperwork but it's on you to fill it out.
Old 08-22-2009, 03:45 PM
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Thats our goverment for us!

How much money did you win?

http://rose.casinocitytimes.com/articles/977.html
Old 08-22-2009, 04:40 PM
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yeah sam always has his hand in your pocket, if you have no money he will get your nuts squeeze out what money he wants.
Old 08-22-2009, 05:29 PM
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in La. my wife spent 27k and won like 18k through the year, she uses a VIP emerald card when she plays, at the end of year i have her go to the casino's she plays at, she gets a read out ( hince the card ) i claim all losses and La. state taxes, get alot of the state taxes back but not much of the gambling losses lol go figure!!! but at lease its something.
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