After 48 Years The Slot Tax Threshold Is Finally Going Up https://share.google/nTZ08G71XuYACcem6
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After 48 Years The Slot Tax Threshold Is Finally Going Up https://share.google/nTZ08G71XuYACcem6
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Yeah [emoji1316]
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I did not see that mentioned, I did hear that they may change the only 90% of losses allowed portion that was also in acted in the Bill.
Yaaaaaaaaaa bout time . Attachment 16236
Yes Low Roller Scratcher warned us and said that Brian Christopher, Big Jackpot, Mr.Handpay, Lady Luck all be out of employment due to 90% taxes. They become full time skill bonus checker jobs people. He told us.Quote:
Originally Posted by sondor
.Quote:
Originally Posted by CPT
looking at the new rule . seems you will need to loose 10% more than you won to get to 0 tax due ..HA ! that wont be hard for me .
I’ve yet to find any understandable info on the new tax bill impact on jackpot winnings and, what the 90% loss limit means for us casual slot players. Clear as mud from the limited amount of things I’ve read.
Crossing fingers we will get more clarity and that for us lucky enough to get handpays, we will still be able to deduct full losses to offset them [emoji1695]
Freaking Lawyer speak . its almost like they don't want you to know .Quote:
Originally Posted by clemi
https://x.com/vitalvegas/status/1945...pqCaKJakbdzLWQ
VV says threshold changed for 1099 winnings not jackpot W2G’s [emoji2368]
We have until 1/1/26 before need to worry about it, so hopefully by then everyone understands it.Quote:
Originally Posted by clemi
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Ill ask around over in Mississippi next week and see if anyone has any insight in to the future changes .Quote:
Originally Posted by MrsSondor
Found an article about this and one of the comments:
Quote:
I don't think this report is correct. Section 70433(C) says it increases the threshold from $600 to $2000 for the tax law section 6041a. That part of the tax law refers to 1099-MISC reportable income, not slot wins on W-2Gs. That's f[r miscellaneous payments. The only miscellaneous payments gamblers get are from things like raffles and casino tournaments where there's no $ wager involved. So if you win a $1000 slot tournament (not considered gambling income), you will no longer get a 1099-MISC (like has happened to me). But nothing I find in the new bill changes handpays from $1200 to $2000. And this would be all over the internet if it was true. I urge you to check your reporting.
Well said!Quote:
Originally Posted by MrsSondor
Well that makes it clear as mud .Quote:
Originally Posted by CPT