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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Investing megathread extravaganza
A place to talk about investing stuff.
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Old 07-13-2017, 02:47 PM   #1096
Amnorix Amnorix is offline
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Originally Posted by eDave View Post
Personally, I wouldn't claim it. If they catch you, meh about the penalty. It's free money regardless. It's another gamble but you won't lose much. Drug dealers lose more though laundering.

Let it ride!

I'd agree with this unless they send him the 1099-whatever.
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Old 07-13-2017, 04:50 PM   #1097
Coach Coach is offline
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Yeah, imagine they will send you a 1099-[whatever letter it is for gaming winnings].

You should definitely keep track of gaming losses in 2017 now, if you haven't been already, as losses can be used to offset winnings.
W-2G. Gambling winnings.

1099 is for Misc stuff like non-compensation employee or self employed, etc.
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Old 07-13-2017, 06:45 PM   #1098
Buehler445 Buehler445 is offline
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I took 2 grand in cash and walked out with 14 g.


Holy hell man.

https://www.efile.com/taxable-gambli...-income-taxes/

Looks like it is just a flat 25% tax.

This link says you can only deduct losses if you itemize.

Personally, I'd just stick it in a savings account until tax time.

No W-2 G, I wouldn't report it.
Last edited by Buehler445; 07-13-2017 at 06:46 PM.. Reason: Too dumb to read.
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Old 07-13-2017, 07:14 PM   #1099
O.city O.city is offline
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Holy hell man.

https://www.efile.com/taxable-gambli...-income-taxes/

Looks like it is just a flat 25% tax.

This link says you can only deduct losses if you itemize.

Personally, I'd just stick it in a savings account until tax time.

No W-2 G, I wouldn't report it.
It was the craziest shit I've ever seen.

Was up 2 grand thru Saturday, then sat night sat at the blackjack table with 1000, 100 dollars a hand minimum. Played about 1.5 hours and got to noticing my stack was getting a little bigger as I started betting more.

Colored up and had 8k
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Old 07-13-2017, 07:20 PM   #1100
Buehler445 Buehler445 is offline
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Jesus man. I don't want to gamble that much cash. Maybe it is because I gamble a lot on weather but damn. I worked hard for coin. I don't want to give it to a casino - I have invariably bad luck.
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Old 07-13-2017, 07:22 PM   #1101
O.city O.city is offline
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Jesus man. I don't want to gamble that much cash. Maybe it is because I gamble a lot on weather but damn. I worked hard for coin. I don't want to give it to a casino - I have invariably bad luck.
It was my 30th bday trip and I had been saving the cash for a while for it so I was prepared to lose it.

But it was pretty cool to have a 5000 dollar chip.
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Old 07-13-2017, 07:24 PM   #1102
Buehler445 Buehler445 is offline
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It was my 30th bday trip and I had been saving the cash for a while for it so I was prepared to lose it.

But it was pretty cool to have a 5000 dollar chip.
Well done sir. Just Don't go back and let them have it back.
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Old 07-13-2017, 07:25 PM   #1103
O.city O.city is offline
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Well done sir. Just Don't go back and let them have it back.
Oh I won't be returning for a while.

I took the cash and added some to my rainy day fund and the rest to my savings account, one for myself and one for the boys. Hopefully I can do somit good with it
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Old 07-13-2017, 07:41 PM   #1104
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Oh I won't be returning for a while.

I took the cash and added some to my rainy day fund and the rest to my savings account, one for myself and one for the boys. Hopefully I can do somit good with it
Have you considered this?

http://www.ebay.com/itm/Important-Ca...r/152594503558
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Old 07-13-2017, 07:54 PM   #1105
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It was a close 2nd
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Old 07-13-2017, 08:25 PM   #1106
lewdog lewdog is offline
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I'd be taking that $14k and heading back down there next weekend.


LET IT RIDE!!!!!!!
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Old 07-13-2017, 09:00 PM   #1107
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I'd be taking that $14k and heading back down there next weekend.


LET IT RIDE!!!!!!!
Did you look at the statue? It might change your mind.
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Old 07-13-2017, 10:15 PM   #1108
O.city O.city is offline
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I'd be taking that $14k and heading back down there next weekend.


LET IT RIDE!!!!!!!
My buddy that was with us was pissed that I went to bed on a heater like that.

He actually gave me 500 of his money to play with and I doubled it in 10 mins. I've never seen anything like it.

I felt like a high roller,till I actually went into the high roller area at the bellagio.then, not so much
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Old 07-13-2017, 11:41 PM   #1109
scho63 scho63 is offline
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Personally, I wouldn't claim it. If they catch you, meh about the penalty. It's free money regardless. It's another gamble but you won't lose much. Drug dealers lose more though laundering.

Let it ride!
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Originally Posted by lewdog View Post
I'd be taking that $14k and heading back down there next weekend.


LET IT RIDE!!!!!!!
THIS IS SO PERFECT FOR EVERYONE GIVING YOU ADVICE WITH YOUR WINFALL!

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Old 07-14-2017, 06:52 AM   #1110
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Jesus man. I don't want to gamble that much cash. Maybe it is because I gamble a lot on weather but damn. I worked hard for coin. I don't want to give it to a casino - I have invariably bad luck.
I'm the same way, I work too hard to risk it, because I have bad luck to begin with.
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