Do I have to pay taxes on my casino winnings?

Answer by  gleverance (720)

Yes. All income received, including gambling winnings has to be included. The casino should send you a 1099-G that includes all your winnings. You can offset those by deducting your gambling losses, assuming you have receipts or other documentation of your losses. If you are a member of a casino loyalty program, they may be able to give you documentation.

Answer by  Chaneygirl (1755)

Yes, you have to pay taxes on gambiling income. If you are able to itemize, you may be able to deduct your losses up to your winnings (need receipts/stubs).

Answer by  EarlOfSandwich (177)

Sorry, but you do have to pay taxes on casino winnings, and winnings from all other forms of gambling as well. You may subtract any gambling losses you have in a given year from your winnings and report a net amount. However, you must be sure to have good documentation for any losses you choose to net against winnings.

Answer by  Gunrunner (561)

Yes, all gambling winnings are subject to income taxes. My best advice is to go to the IRS website to evaluate your particular situation. Do a search for "casino winnings".

Answer by  julio (38)

Your casino winnings may or may not be taxable. If you itemize deductions, you can take your losses on Schedule A to offset your winnings. Also, depending on if you have any other income and how much you won, they may or may not be taxable. You would have to look at your filing requirements.

Answer by  Kurt (4579)

Yes you have to pay taxes on your gambling winnings at a casino. If you turn in a large enough claim on a slot machine the casino will take your tax information to send you and the IRS a 1099 form. You can also offset this against gambling losses.

Answer by  crissy619 (0)

how much money

Answer by  crissy619 (0)

i won 9.000 on a slot machine.how much taxes will i have to pay