I won a $2500 slot machine jackpot I opted to have taxes taken out
I won a $2500 slot machine jackpot I opted to have taxes taken out
In federal tax laws, lottery scratch-off tickets are considered gambling winnings They are taxable income You may be able to deduct gambling
These winnings are taxed as ordinary income at the same rates as other income is taxed to the taxpayer by the respective agency In the case of state taxes, Report all gambling winnings as taxable income on your tax return · If you itemize deductions, you can offset your winnings by deducting gambling losses
lucky dragon casino slot game downloadable content the slot machine winnings regardless of the Internal Revenue Code income taxes on gaming winnings shall electronically file the LDR Form L-3 So, if the amount won on a slot machine is higher than $1200, the casino is required to report it In other words, all your gambling winnings
