Biggest slot win?
July 18th, 2026 at 6:04:58 PM
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Quote: itsmejeffQuote: 100xOddsQuote: rxwineI'd like to see her completed tax forms for the last couple years.
(around the 27 minute mark)
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Simple.
don't withhold any taxes from w2-G. file as a pro.
Under Other income in schedule '?', just put down the lump sum of all the w2-G.
then in same schedule, subtract your expenses including lump sum gambling losses.
on April 15, pay since didn't withhold any taxes. (including fica for social security and medicare)
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They are not "pro" gamblers. They are content creators who use gambling to create content. They make no money from gambling. They lose massive amounts of money on it. But they also get paid by casinos, possibly get loss rebates, and have other income streams that exceed their losses.
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With sooooooooooo many w2-g from different casinos, it'll probably be easier to file as a Pro and just lump sum together under other income
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
July 18th, 2026 at 6:32:16 PM
permalink
Quote: 100xOddsQuote: itsmejeffQuote: 100xOddsQuote: rxwineI'd like to see her completed tax forms for the last couple years.
(around the 27 minute mark)
link to original post
Simple.
don't withhold any taxes from w2-G. file as a pro.
Under Other income in schedule '?', just put down the lump sum of all the w2-G.
then in same schedule, subtract your expenses including lump sum gambling losses.
on April 15, pay since didn't withhold any taxes. (including fica for social security and medicare)
link to original post
They are not "pro" gamblers. They are content creators who use gambling to create content. They make no money from gambling. They lose massive amounts of money on it. But they also get paid by casinos, possibly get loss rebates, and have other income streams that exceed their losses.
link to original post
With sooooooooooo many w2-g from different casinos, it'll probably be easier to file as a Pro and just lump sum together under other income
link to original post
You can only file as a pro if your main source of income is from gambling. The number of W2G's has no bearing. I have had close to 200 W2G's in a year and did not qualify as a pro.
You can't know everything, but you can know anything.
