How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jacy Your Own Question
Jacy, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 568
Experience:  Nine years individual income tax preparation and consulting
Type Your Tax Question Here...
Jacy is online now
A new question is answered every 9 seconds

must an individual report bingo winnings of $800.00 to IRS

Customer Question

must an individual report bingo winnings of $800.00 to IRS for tax purposes?
Submitted: 5 years ago.
Category: Tax
Expert:  Jacy replied 5 years ago.

Jacy :


Expert:  Jacy replied 5 years ago.



Yes, if your total income requires you to file a tax return, then you must report all of your income. If you itemize deductions on Schedule A, you may deduct gambling losses (the amount you spent to play) up to the amount of income you report.


Thank you for your question. Feel free to reply if you need additional help.



Related Tax Questions