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Taxes on winnings
Hey guys, just a quick question. I just made about 5k during the past two weeks and just had it wired into my bank account yesterday. I was wondering, how do I go about paying taxes for it? I'm currently a college student and dont really have a job. Also I'm from New York and dont mind reporting the winnings, just dont want it to come up that it was obtained from an "illegal" activity. Anyone have experience with this and what to do? Thanks
Is this a bait thread to find out how many people actually report winnings on taxes?
If not, here is your answer:
When you file your taxes, during the process, it will ask you if you have any unreported income: ie "gambling winnings or prize money".
Simply click 'yes' and report the amount you won, or click 'no'.
They are YOUR taxes, the choice is yours.
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