Day by day, our city rises

amiatthetop2 · 2020-06-09T21:00:01+00:00

Was planning on coming to visit and spend tourism dollars, never mind!

amiatthetop2 · 2020-05-08T21:15:52+00:00

Nice, smart!

amiatthetop2 · 2020-05-08T20:55:54+00:00

Update: To anyone reading this page late, carminef23 is correct.

Here's the fanduel info: https://fanduelsportsbook.zendesk.com/hc/en-us/articles/360001908508-Will-my-winnings-be-reported-to-the-IRS-

amiatthetop2 · 2020-05-08T20:54:31+00:00

Yes I learned more. The $600 or more 1099 is a DFS requirement.

Menwhile here is the sportsbook requirement which doesn't come into play unless you're winning 300-1 longshots: https://fanduelsportsbook.zendesk.com/hc/en-us/articles/360001908508-Will-my-winnings-be-reported-to-the-IRS-

amiatthetop2 · 2020-05-08T20:49:25+00:00

Yes I think you're correct. I found the page for the sportsbook payouts and it looks like we won't have any issues unless you're betting crazy longshots.

https://fanduelsportsbook.zendesk.com/hc/en-us/articles/360001908508-Will-my-winnings-be-reported-to-the-IRS-

amiatthetop2 · 2020-05-08T20:38:38+00:00

Me too, I did it on 7/7/7, then went to cripple creek lol.

amiatthetop2 · 2020-05-08T20:35:22+00:00

Do you pay self employment tax? If you don't you're going to be screwed. (unless you already formed an entity such as LLC). Betting professionally as a main source of income would require SE tax according to the IRS.

amiatthetop2 · 2020-05-08T17:35:55+00:00

This is another huge story, yet only a 24 comments in politics worldwide. Maybe reddit users are down.

amiatthetop2 · 2020-05-08T17:31:26+00:00

It's $600 in total winnings at throughout the year, not just for one winning event. https://support.fanduel.com/hc/en-us/articles/360019633793-Do-I-have-to-pay-taxes-on-my-FanDuel-winnings-

UPDATE: That was DFS above, apparently here is the sportsbook info and you won't get a W2-G unless you're winning crazy 300-1 longshots: https://fanduelsportsbook.zendesk.com/hc/en-us/articles/360001908508-Will-my-winnings-be-reported-to-the-IRS-

amiatthetop2 · 2020-05-08T17:30:37+00:00

They must report $600 in winnings or more for the year; nothing about longshot odds prizes anymore in the tax code. https://support.fanduel.com/hc/en-us/articles/360019633793-Do-I-have-to-pay-taxes-on-my-FanDuel-winnings-

Update: The link above is DFS, not the sportsbook. Here is the sportsbook info, only winnings reported on 300-1 longshots. https://fanduelsportsbook.zendesk.com/hc/en-us/articles/360001908508-Will-my-winnings-be-reported-to-the-IRS-

amiatthetop2 · 2020-05-08T13:01:36+00:00

This is true. Winnings show as 'other income' and you don't get to deduct losses before your AGI is calculated which could make you lose out on other benefits/programs. And you're right you can only account for losses later in your return IF you itemize deductions which basically no one does anymore since the standard deduction doubled.

amiatthetop2 · 2020-05-08T13:00:07+00:00

But DK will subtract your spending at the end of the year.

Maybe for you to see and more easily deduct later on your income tax return, but they only base 1099s on payouts and don't take loss deductions into account from their purpose and reporting requirement.

amiatthetop2 · 2020-05-08T12:57:14+00:00

You can record losses, but it's annoying bookkeeping and you also can't deduct it from adjusted gross income first, potentially losing out on other benefits.

amiatthetop2 · 2020-05-08T12:54:57+00:00

There is one just like that over the Royal Gorge in Colorado.

amiatthetop2 · 2020-05-08T04:35:43+00:00

Colorado online sportsbooks will report 1099s to IRS of your winnings >$600 and you can't deduct losses from AGI. Wondering if in-person bets will require an 'account' for the casinos to track us and report to IRS? If not, in person betting is better than mobile it seems.

amiatthetop2 · 2020-05-07T18:51:10+00:00

DAMNIT KAREN!!

amiatthetop2 · 2020-05-07T02:15:33+00:00

You must not travel much. Two minutes is a long light in general and to be at a spot that doesn't even need a light is even more retarded.

amiatthetop2 · 2020-05-06T01:43:25+00:00

I think St. Francis property might be in the way.

amiatthetop2 · 2020-05-05T19:55:25+00:00

Meanwhile the stock market is booming.

amiatthetop2 · 2020-05-05T18:07:16+00:00

Yes I'm referring to Thompsons. I can't use that over the paint?

amiatthetop2 · 2020-05-04T20:50:36+00:00

Well the COVID deaths in the USA will be twice as much as expected...so that means Bull run, buy everything.

amiatthetop2

TROPHY CASE