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Questions

2007-10-04
You mentioned in a previous QoD that we can deduct our gambling losses on our taxes up to the amount we won. So I'd like to know how we can prove our losses.
2007-09-12
As a Canadian citizen I understand that any slot win over $1,200 triggers a 1042-S and I've filed a non-resident return three or four times to recover tax money withheld from jackpots. Before my most recent trip, I did some research on the topic and discovered what I thought was the magic form, the W-8BEN. The way I understood it was that if I triggered a 1042-S, all I had to do was hand this form to the payer and they wouldn't take the 30%. When I hit a $4,000 royal, I was pretty excited, for the win and to be able to whip out the magic form. It didn't work! I explained up and down the purpose of the form and was sure it was going to work but the bosses told me, pardon the pun, NO DICE! Eventually, I just had to give it up. I'll get the money back, which will make for a nice windfall in January, but I really thought I had the problem licked. Does anybody know what the actual rules are?
2007-08-01
In your answer on 6/20/07, you wrote that on the $2,500 video poker machines, you get a W-2G for a high pair. Are there really $2,500 machines, where you need $12,500 to load it up? And can you explain to me why you'd need tax documentation for a push -- you're not really winning anything, you're just getting your money back.
2007-07-06
Sometimes I stand and watch my brother play a table game, Let It Ride for instance. When he leaves the table for one reason or another, I sit down and play for him while he's gone. The dealer doesn't seem to mind when I do this. But if I won a large jackpot while playing, would I be one to get a W-2G or would my brother since it is his money?
2007-07-03
While cashing out at the cage at Caesars Palace I was told by the cashier that, starting on the 1st of July, I would need to provide my Social Security number (I had $4,000 in chips). Any idea what this new regulation is?
2007-06-21
I made my first trip to Vegas in 1992. So far as I can remember, casinos have been issuing W-2Gs for machine wins of $1,200 or more since that time. Is there any movement afoot in Washington to raise that limit? It would seem that it might be considered just simply due to the annual inflation rate over the past 15-20 years.
2007-05-07
My isn't English very good, so would you have the kindness to translate this for your readers? Un joueur français qui aurait la chance de gagner un beau jackpot devrait-il payer une taxe? Connaissez-vous le taux? Certainly: Would a French player who's lucky enough to win a large jackpot have to pay tax on it? Do you know what that tax would be?
2006-10-14
So what's the deal with Reg 6A expiring? Aren't the feds worried about the casinos laundering money anymore?
2006-08-26
What percent of casino profits does the state of Nevada get?
2006-07-07
Would you advise me to bring my Social Security card to Las Vegas? I never have, as security experts advise you not to carry it. But do you have to show it if you win above the W-2G threshold? Or can you just provide them with the number without the SS card for proof?
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