1. 03-20-13 12:45 AM #1
    2178ice
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    Do you have to claim sportsbook winnings on your taxes in Nevada???

    I am going to open an account for a sports book in Nevada but they want my social so i'm scared ill get taxed on my winnings lol???Help!
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  2. 03-20-13 01:40 AM #2
    eidolon
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    just keep record of your loses
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  3. 03-20-13 01:43 AM #3
    Vegas39
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    Yup as eid said claim loses. There's people in Vegas that will collect up losing tickets for taxes
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  4. 03-20-13 02:53 AM #4
    El Nino
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    No. Your soc and info is taken for money laundering purposes and is given to the treasury department. If you fill out a W2 then it goes straight to the IRS. When in doubt, itemize your return and offset winnings with losses.
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  5. 03-20-13 08:14 AM #5
    unluckysob
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    do they report a year end bottom line to irs?---just winnings?-- my guess they do not report anything---want ssn just in case.
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  6. 03-20-13 08:28 AM #6
    k13
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    Just say you reside in Monaco.
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  7. 03-20-13 08:30 AM #7
    geebert74
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    El Nino is corect. If you fill out simple casino paperwork with your ss# on it then they don't send anything to them. But if you end up sending you a W2, then it is reported and you "should" claim it. But they will most likely only report sportsbook income. If you come up with a casino loss they will not be reflected on that W2.
    Any single wager paying 300 times the amount wagered and at least $600 is taxable income. If any winnings minus the amount wagered exceed $5,000, federal taxes are withheld.
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  8. 03-20-13 08:46 AM #8
    BigDeem5
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    Check in Milwaukee mike
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  9. 03-20-13 08:55 AM #9
    playersonly69
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    Well actually EVERYONE in the US is supposed to claim all sportsbook and gambling winnings.


    If you have a winning lottery ticket of over $600, then you get a W2g. But actually to be 100% true, you would need to claim all wins of $100 and under as well. Just because you dont get a 1099 or W2G doesnt mean that it isnt taxable
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