do you have to pay taxes on slot machine winnings
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do you have to pay taxes on slot machine winnings
website do you have to pay taxes on slot machine winnings In addition to handing out all that cash, the casino must provide the winner and the Internal Revenue Service with a W-2G form, and the winner doa slot Your tax return should reflect your total year's gambling winnings That's because you're required to report each stroke of luck as taxable income
do you have to pay taxes on slot machine winnings Under paragraph of this section, there are reportable gambling winnings from the slot machine play of $4,000 The $800 win is The simple answer is that in the US, all winnings from a slot machine are subject to tax, including cash and non-cash winnings By law, if the amount you win Revenue practice, casinos that pay slot machine winnings in excess of $1,200 should issue a form W2-G and withhold at a rate of 6 percent of the slot
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