![]() The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament,.The winnings (reduced by the wager) are $1,500 or more from a keno game,.The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine,."Īccording to the previously linked form, a W-2G is used to report winnings if: The requirements for reporting and withholding depend on the type of gambling, the amount of the gambling winnings, and generally the ratio of the winnings to the wager. The form that gamblers get is the W-2G: "File Form W-2G, Certain Gambling Winnings, to report gambling winnings and any federal income tax withheld on those winnings. According to this page, "A form 1099-G, Certain Government Payments, is issued to taxpayers who are in receipt of unemployment compensation paid by the government state or local income tax refunds, credits, or offsets reemployment trade adjustment assistance (RTAA) payments taxable grants or agricultural payments." I don't think that's the form you'd receive from a gambling win. ![]() There are lots of references to 1099-G here.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |