Betting at Legal US Books and Tax Consequences

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  • HedgeHog
    SBR Posting Legend
    • 09-11-07
    • 10128

    #1
    Betting at Legal US Books and Tax Consequences
    If you finish the year with any winnings whatsoever at a legal US book, is a 1099 form issued--or is there a certain threshold of net profit needed to trigger it?
  • Shifty
    SBR Wise Guy
    • 08-10-08
    • 558

    #2
    You only get a 1099 if you hit a 300-1 shot or higher.
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