 SBR Top-Rated Sportsbooks |
Best Sportsbooks List
|
|
| |||||
| #1 FanDuel | SBR rating 4.8/5 | Review | #6 BetRivers | SBR rating 4.1/5 | Review | #2 Caesars | SBR rating 4.7/5 | Review | #7 Fanatics | SBR rating 4.1/5 | Review |
| #3 DraftKings | SBR rating 4.7/5 | Review | #8 Betway | SBR rating 3.8/5 | Review | ||
| #4 BetMGM | SBR rating 4.6/5 | Review | #9 Borgata | SBR rating 3.5/5 | Review | ||
| #5 bet365 | SBR rating 4.6/5 | Review | #10 ClutchBet | SBR rating 2.9/5 | Review | ||
Taxes: you can leave health care blank
When you file you can leave line 61 blank (obamacare) and your return will be accepted now according to the IRS.
Obamacare is a killer for uninsured gamblers. You have to pay on your gross winnings. You can hit six figures in slot jackpots, dump it all back and owe up to $2085.
Last edited by Kaabee; 03-02-17 at 12:26 AM. Reason: $2085 max penalty
My guy says they were instructed to not collect penalties either
Literally nothing you wrote is true.
Ya wouldn't make sense for them to give the OK and come after you.
If you file online go with turbotax as they will have this option starting March 2. H and R block won't let you.
Which parts.Originally Posted by d2bets
Milwaukee Mike check in pal
Your tax penalty is based on your MAGI. Your MAGI is calculated before itemized deductions including gambling losses.
I think the maximum payment is 2.5% up to a max of $2085 for 2016. Still sucks though the way gambling income and losses are supposed to be reported and how they affect items elsewhere on the return because a lot of things are tied to adjusted gross income.
Ya the max is $2085. I would have been on the hook for $1500 this year.
All of them.
Yeah, I mean, unless you're a big-timer (or maybe even if), you probably won't get caught if you cheat on your taxes. But it's still possible and the law is the law.
I never said it wasn't the law. I said the IRS will now accept the return instead of rejecting it as they used to.
Forbes article and turbotax links show that.
I was wrong on the penalty. Forgot about $2085 max.
Calculation of penalty is MAGI. Losses don't count. That is the law and that is how the tax software calculates your penalty for you.
Last edited by Kaabee; 03-02-17 at 12:21 AM.
Reply With Quote
TRUMP RULES!