Your $1.05 Kings Court Quiniela: Taxable !!! Posted on August 22, 2017 at 07:07:01 AM by Tiger
There, that got your attention.
I'm working on a comprehensive report for the main site to describe all the ins and outs of IRS handling of gambling winnings - reporting, withholding, losing tickets, dime bets, record keeping, 10-percent Charlie - the whole enchilada.
There are many misconceptions that, hopefully, will be cleared up here over the next month or two as I put the study together. Nuances, too, lots of 'em.
Feel free to add your inputs as we go. We'll try to handle the individual issues (at least briefly) in the discussion forum, but the final study will be fully detailed.
But now, back to the title subject. Yes, Virginia, ALL gambling winnings are taxable.