I have been withdrawing $690 twice every week from 5d. Do I need to report this in my taxes.
What if I win 10-20K where most the favs cover for a week.
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02-25-13 04:51 PM #1
Do we ned to claim the money in taxes
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02-25-13 04:56 PM #2
Talk to your tax guy
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02-25-13 04:57 PM #3
...and post your damn plays!
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02-25-13 05:47 PM #4
what money?
Nomination(s):This post was nominated 1 time . To view the nominated thread please click here. People who nominated: riffraff24
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02-25-13 05:54 PM #5
I have been paying 5 dimes every month so i can't relate to ur issue.
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02-25-13 06:11 PM #6
Are you looking to deduct your losses? And what state are you in? Federally I know you are "supposed" to claim all of it, even if its only $25, but if it is a small portion of the total bank deposits relative to your ***************(income) I wouldn't be too worried, as your financial institution will more than likely not notice...you could always keep your winnings in cash and then just spend the cash(but then of course you run the risk of your currency depreciating, due to the 1.5% inflation, as well as the opportunity cost of not having your cash in a interest yielding saving or investment account)...want more tax info please PM me i'd be happy to help..i'm an economics student at a great university in the northeast
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