Re: Harrah's Casinos in Vegas

Question:
I have documentation that I traveled to, and stayed in, Las Vegas.  During 
that stay I won $600 in a poker tournament but  lost $1,200 playing black 
jack.  I finished the trip -$600 gambling and -$900 in travel expenses.  How 
much do I owe in taxes?

Irish Mike

"Ron Dworkin" <ron_dworkin@xxxxxxxxxxx> wrote in message 
news:1138830449.997254.162730@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> Your  numbers are correct.  Any amount won over $600 is issued a W2.
> Also, if you are from a foreign country they take 30% tax from any
> amount over $600.  The Chop part is also correct.  Someone has to sign
> for every amount on the tournament sheet, and will be issued a W2 or
> taxed accordingly, so this needs to be taken account of in any deal.
> The TD was very clear about this in a speech made before each final
> table began play when I was there.
> 


.

Relevant Pages

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