Why Are $1,200.00+ Table Wins Not Taxable?

Perhaps what I wrote and what I meant were slightly different. It's a bit like writing a love letter to a teacher and having it returned graded. Such is life
The original poster in both the title and the post asked why $1,200 slot wins are taxable and table wins of that amount were not. This is untrue. They both are taxable as winnings.

It then morphed into reportable. Once again ALL winnings are reportable according to the IRS by the individual on their tax return.

This then morphed into what triggers a W-2G. Grasp accurately answered what triggers a W2-G by a casino.

Once again, all gambling winnings are taxable and all are reportable. If one does not receive a W-2G and chooses not to report their winnings, or receives a W-2G and only reports that, that is up to them.

https://www.irs.gov/newsroom/article/0,,id=108277,00.html
Very interesting discussion.
I have never received a W-2G from a casino for table game wins.I'm guessing the expense of generating the paperwork makes them decide not to do it.
I have had wins at $10 and $15 tables of $10K+and fortunately never handed a W-2G.
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Originally posted by: JMDLV1 I have never received a W-2G from a casino for table game wins.I'm guessing the expense of generating the paperwork makes them decide not to do it.
It's a policy decision. They don't want the paperwork to destroy the entertainment value, but they do want wins that are significant to trigger a casino record. Recording the wins helps the IRS gather information, that is used in a variety of ways, and also serves as a gentle reminder to the taxpayer.

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Originally posted by: marcr Once again, all gambling winnings are taxable and all are reportable.
It's simply a matter of semantics. The word "report" can be a verb or a noun. Most people think of Form W-2G, etc. as a report, but don't think of Form 1040 that way.


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