Vegas winnings reported

[kmoore15]

Heard they fill out paper work for winnings over 5k? is it just on winnings or say you risk $3000 and win $2500 will they report that because your total payout for that ticket would be $5500

[dimaggio8]

Heard they fill out paper work for winnings over 5k? is it just on winnings or say you risk $3000 and win $2500 will they report that because your total payout for that ticket would be $5500

Unless they changed it, I thought it was anything 10k and above.

[ARCHIVADO98]

How much tax do residents in California pay on this? 3000 to win 2500, payout 5500... tax 800 or more?

[vampire assassin]

For sports bets, they don't will out a W-2. The fill out a CTR if you take cash totaling 10k or more. If you risked $9200 to win $1000 and they paid you out $10,200, you'll get a CTR.

Vegas used to let you get around this by taking casino chips as part of the payout if you asked for it, which don't count against the $10k cutoff. I don't know if you can still do that though.