how much taxes do you pay on slot machine winnings
I won a $2500 slot machine jackpot I opted to have taxes taken out
how much taxes do you pay on slot machine winnings
website how much taxes do you pay on slot machine winnings If you hit a single jackpot of $1200 or more, you will have to fill out a W-2G tax form and since you are not from the US, they will withhold 30 how does slot machines work Gambling winnings are taxable They are added to your other income and taxed at your bracket rate Casinos are required by law to withhold for
how much taxes do you pay on slot machine winnings But it's not fun to pay taxes on the winnings Gamblers know that all winnings are taxable However, most people do not report their winnings unless he or she Gambling winnings are taxable at ordinary income tax rates A payer of gambling winnings is required to issue Form W-2G, Certain Gambling Any gambling winnings are subject to federal income tax If you win more than $5,000 on a wager, and the payout is at least 300 times the
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