Minimum for 10 cent superfecta thats a signer?

[alling]

Whats the minimum you can win on a 10 cent superfecta before its reported to the IRS?

[MadTiger]

The rule is this:

"$600 or more to the IRS if such winnings are at least 300 times the amount of the wager based on a $2 bet."

The 10-cent superfecta wager doesn't meet the second qualification, as it is not a $2 wager.

[alling]

Found this on IRS webswite:

Reportable Gambling Winnings

Report gambling winnings on Form W-2G if:

The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine,

The winnings (reduced by the wager) are $1,500 or more from a keno game,

The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament,

The winnings (except winnings from bingo, slot machines, keno, and poker tournaments) reduced, at the option of the payer, by the wager are:

$600 or more, and

At least 300 times the amount of the wager

[sq764]

anything over $600 on a dime super you pay.. and this is one reason you should always play each ticket one dime at a time.. if you hit $250 dime super but played it for $0.30, you would pay taxes on the $750 winnings.. if you played 3 dime tickets, you would simply cash $250 each on all 3

[mproud1]

unless you are keying BOMBS, cutting down to .50 is often good enough.

[cecil127]

unless you are keying BOMBS, cutting down to .50 is often good enough.

if he's cashing 3 ten cent supers for $250 each, he done keyed some bombs!