Video Poker - Tax question

Hi everybody!

I like to take my father (he is on social disability) from time to time to the casino so he could break from the norm and loves playing video poker. I give him money to play. Then, I realized if he wins a jackpot ($1200+) a W2g form must be filled out correct? Is there a way that I could take on the W2g instead of him? I don't mind paying the taxes on it under my name, I just don't want him to get screwed over by it, after all it is my money he's playing with. Anybody help me out with this information? Thanks!

I'm not sure, but there are plenty of quarter or less video poker games where hitting a Royal is < $1200. If you stick to those machines, he'll never encounter that scenario.

Quote: StayYoung

Hi everybody!

I like to take my father (he is on social disability) from time to time to the casino so he could break from the norm and loves playing video poker. I give him money to play. Then, I realized if he wins a jackpot ($1200+) a W2g form must be filled out correct? Is there a way that I could take on the W2g instead of him? I don't mind paying the taxes on it under my name, I just don't want him to get screwed over by it, after all it is my money he's playing with. Anybody help me out with this information? Thanks!

I'd hate to see either one of you getting screwed over by the BEAST. Just ignore the W2g and play on.

Quote: treetopbuddy

I'd hate to see either one of you getting screwed over by the BEAST. Just ignore the W2g and play on.

This is the worst possible advice. The W2Gs get sent to the IRS as well, and if you don't report it on your 1040, they are likely to catch you. This isn't something that has to be caught by a manual worker doing spot checks, this is something that they can catch via an automated system...if your reported income is less than the sum of all the W2s they have (from all sources), the BEAST will likely kick out your return for further examination.

As to the OP, I don't have a great answer, other than just giving him some cash to cover the taxes come the end of the year. Hopefully it wouldn't affect his gross income enough to become a problem.

Whoever is touching the buttons is supposed to get the W2G.

Quote: Wizard

Whoever is touching the buttons is supposed to get the W2G.

Yeah...
Better advice is just to never play higher than 25c denim, and miss progressives...that way, your highest jackpot will be $1000.

Quote: Wizard

Whoever is touching the buttons is supposed to get the W2G.

The key phrase here is "supposed to".


I think, as long as there is nobody arguing to the contrary, that anyone can claim the prize, and get stuck with the W2G.

I.E. If your dad hits the big jackpot, just have him call you over to act as the winner.
Would the casino really check the video tape? I doubt it.