Tax season 2015 Gambling Wins

[clemi]

Just curious if anyone was lucky enough to have to pay taxes on gambling wins from 2015?

I had a few hand pays that were more than offset by losses sadly... Just wondering how it works for those having to report a net win?

Are net wins taxed at a marginal rate? Again just curious as I've never been lucky enough to win more than I lost lol.

[dvandentop]

Hmm i haven't done mine yet. But I might be ahead for last year due to a few big wins

[clemi]

Hmm i haven't done mine yet. But I might be ahead for last year due to a few big wins

Hhh it's April 16th, you and my son sound alike waiting to the last minute :)

[dvandentop]

Hhh it's April 16th, you and my son sound alike waiting to the last minute :)
Extension ;)

[clemi]

Hmm i haven't done mine yet. But I might be ahead for last year due to a few big wins


Hhh it's April 16th, you and my son sound alike waiting to the last minute :)

Sorry I remember you have your own business so your tax deadline might be different :)

[darrellk]

clemi I had 3 HPs totaling $4100. I do not try to offset with losses cause I don't keep track. Based on my tax bracket I ended up paying in over $700 to Federal & $50 to the state.


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[clemi]

clemi I had 3 HPs totaling $4100. I do not try to offset with losses cause I don't keep track. Based on my tax bracket I ended up paying in over $700 to Federal & $50 to the state.


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Not too bad Darrell :)

[Evoni]

I had more then enough losses to offset my few big wins of last year. :)

[BigDaddy]

My W-2G's totaled to $172,783.32 $110,000 was at Foxwoods alone..

I certainly had my fair share of losses as well to help offset my wins.. Bottom line, let's just say BigD is fucked this year.. Taking some time off to heal my wounds..:) LOL

[dvandentop]

My W-2G's totaled to $172,783.32 $110,000 was at Foxwoods alone..

I certainly had my fair share of losses as well to help offset my wins.. Bottom line, let's just say BigD is fucked this year.. Taking some time off to heal my wounds..:) LOL
Wow did you post all those? Damn they added up quick. Suppose the chershire hit helped alot ;)

[BigDaddy]

Wow did you post all those? Damn they added up quick. Suppose the chershire hit helped alot ;)
I got laxed posting all my reports and wins here on the forum.. My BS Group is where I would of posted a majority of my big hits.. Cheshire was my largest to date.. I had a nice run on my April NCL Getaway Cruise hitting over $30,000 in W-2's.. Yeah, they add up.. Trop AC over $13,000.. Local Casino too.. Crazy looking back now.. This year I'm not off to a great start.. Maybe $30-$40,000 now, not 100% sure..

[dvandentop]

Wtf get w2g on cruise ship even in international waters that blows
Love my no tax wins in bahamas

[BigDaddy]

1568Foxwoods W-2G's, omitted social for obvious reasons..

[goldengreeke]

No problem for me. Sharon and I had only 3 handpays for a grand total of $4,400.00. Lost at least ten times that amount, so no taxes.

This year will be much different because gambling budget for the whole year is only a hundred a week lol.

[Penguin]

We are on the minus side but only for $4K or so. Had 1 winning trip from AC and then took home $1K from free play over 5 trips to Cleveland Horseshoe where we took the free play then headed to Diamond Lounge. (Of course after 3 months those comps disappeared. HHH) Better luck so far this year -- 10,000 TC and $0 cost. Got to love the CET bonus programs. Only been to 2 casinos so far this year. (Laughlin and Rincon)