1. 01-07-21 10:07 AM #1
    kmoore15
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    Vegas winnings reported

    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
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  2. 01-07-21 02:41 PM #2
    dimaggio8
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    Quote Originally Posted by kmoore15 View Post
    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.
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  3. 01-07-21 03:20 PM #3
    ARCHIVADO98
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    How much tax do residents in California pay on this? 3000 to win 2500, payout 5500... tax 800 or more?
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  4. 01-07-21 06:39 PM #4
    vampire assassin
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    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.
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