1. #1
    2178ice's Avatar Become A Pro!
    Join Date: 03-12-13
    Posts: 138
    Betpoints: 216

    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!

  2. #2
    eidolon's Avatar SBR PRO
    Join Date: 01-02-08
    Posts: 9,441
    Betpoints: 7991

    just keep record of your loses
    175 pts

    SBR TRIVIA WINNER 12/01/2022

    175 pts

    SBR TRIVIA WINNER 11/21/2022

  3. #3
    Vegas39's Avatar Become A Pro!
    Join Date: 09-22-11
    Posts: 31,015
    Betpoints: 213

    Yup as eid said claim loses. There's people in Vegas that will collect up losing tickets for taxes

  4. #4
    El Nino
    October 2014 POTM
    El Nino's Avatar SBR PRO
    Join Date: 05-03-12
    Posts: 18,430
    Betpoints: 1567

    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.

  5. #5
    unluckysob's Avatar Become A Pro!
    Join Date: 05-21-08
    Posts: 1,514
    Betpoints: 12026

    do they report a year end bottom line to irs?---just winnings?-- my guess they do not report anything---want ssn just in case.

  6. #6
    k13's Avatar Become A Pro!
    Join Date: 07-16-10
    Posts: 17,145
    Betpoints: 174

    Just say you reside in Monaco.

  7. #7
    geebert74's Avatar SBR PRO
    Join Date: 09-03-09
    Posts: 2,446
    Betpoints: 60

    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.

  8. #8
    2013-2016 NBA: 461-378-24 +52.65u
    BigDeem5's Avatar SBR PRO
    Join Date: 02-26-11
    Posts: 17,190
    Betpoints: 3273

    Check in Milwaukee mike

  9. #9
    playersonly69's Avatar SBR PRO
    Join Date: 01-04-08
    Posts: 12,811
    Betpoints: 560

    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