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Reporting winnings...


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#1 Cisc-O's

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Posted 20 September 2018 - 07:09 PM

Question about filing taxes. Sorry we always do ours by turbo tax. Maybe a stupid question but first time I ever won anything reportable. Won 30k in draft kings was wondering if you big timers knew any tricks of the trade. Not bad for a 25 dollar investment.
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<p>I am pretty sure Shack is thinking of PBR.

#2 Pedro Cerrano

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Posted 20 September 2018 - 09:06 PM

Question about filing taxes. Sorry we always do ours by turbo tax. Maybe a stupid question but first time I ever won anything reportable. Won 30k in draft kings was wondering if you big timers knew any tricks of the trade. Not bad for a 25 dollar investment.


Report it. Don’t fuck with the govt. especially now that you’ve made it public. I assume draft kings provides some sort of w2g? Or maybe they withheld it for you?
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There is baseball, and occasionally there are other things of note

"Now OPS sucks.  Got it."

"Making his own olive brine is peak Mackus."

"I'm too hungover to watch a loss." - McNulty

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#3 Pedro Cerrano

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Posted 20 September 2018 - 09:06 PM

Also congrats!
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There is baseball, and occasionally there are other things of note

"Now OPS sucks.  Got it."

"Making his own olive brine is peak Mackus."

"I'm too hungover to watch a loss." - McNulty

@bopper33


#4 Cisc-O's

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Posted 20 September 2018 - 09:44 PM

No it’s sitting in the account. I wasn’t sure if they issued a 1050 near the end or if anyone had experience with it before.
<p>I am pretty sure Shack is thinking of PBR.

#5 BSLSethBondroff

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Posted 20 September 2018 - 09:47 PM

Report it. 

 

I won $40K this past May on the Derby, and asked my accountant and he said absolutely report it. 


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#6 BSLMikeRandall

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Posted 20 September 2018 - 10:13 PM

Don’t report It. Screw em. Haven’t you seen a heist movie before? Just don’t buy a sports car or fur coats or anything and you’re good. You gotta clean that money first.



JK....kind of
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#7 BSLRobShields

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Posted 20 September 2018 - 10:18 PM

Fuck.25k? Seth? 40k?

Crazy.

Awesome for you guys.

Report the shit out of it. Yes the thieving ass government will wrongly steal money from you and piss it away poorly but the fines and potential jail time aren’t worth the risk.
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#8 Cisc-O's

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Posted 20 September 2018 - 10:18 PM

I was wondering if I claimed a win of draft kings on my phone can I use my phone bill as a write off and Verizon internet that I used to get to write off to get that total as low as possible.
<p>I am pretty sure Shack is thinking of PBR.

#9 BSLSethBondroff

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Posted 20 September 2018 - 10:26 PM

Fuck.25k? Seth? 40k?

Crazy.

Awesome for you guys.

Report the shit out of it. Yes the thieving ass government will wrongly steal money from you and piss it away poorly but the fines and potential jail time aren’t worth the risk.

I gave y'all Justify right here on this board when he was 40-1! 


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#10 BSLRobShields

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Posted 20 September 2018 - 10:32 PM

Yea I know. Not happy with myself for not listening. lol
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#11 BSLRobShields

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Posted 20 September 2018 - 10:33 PM

I was wondering if I claimed a win of draft kings on my phone can I use my phone bill as a write off and Verizon internet that I used to get to write off to get that total as low as possible.

The key will be if you have any gambling losses that you can use to lower things?

And that includes lottery tickets, scratch offs, etc...
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