Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I am under audit for 2016. Auditor is not allowing 100% of
I am under audit for 2016. Auditor is not allowing 100% of win/loss letters from casinos to offset income. … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
I received a 1099 MISC from DraftKings, fantasy sports, but
I received a 1099 MISC from DraftKings, fantasy sports, but I have a lot of other gambling losses that would even out. Am I able to offset this somehow?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,622 satisfied customers
Are you an expert on regular iras and contrubution. Last
Are you an expert on regular iras and contrubution … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,913 satisfied customers
I rcvd cp2501 from iirs stating I underreported gambling
I rcvd cp2501 from iirs stating I underreported gambling winnings. This was a mistake. I just put the " net" winnings on my return by accident. Now after researching on line I find that in order to cl… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Are DraftKings (fantasy sport) winnings considered gambling
Are DraftKings (fantasy sport) winnings considered gambling winnings?I have gambling losses not through DraftKings but I am showing winnings on DraftKings.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,763 satisfied customers
Can winnings recorded on form W2-G for winnings at an Indian
can winnings recorded on form W2-G for winnings at an Indian casino be counted as losses as well. Say $50,000 in winnings. Can I claim $50,000 as well. And what type of documentation is required. Winn… read more
Charles Markham
Charles Markham
Principal
Masters Science Taxation
755 satisfied customers
For computer games winnings, should the winner receive a W2G
Hi, For computer games winnings, should the winner receive a W2G or a 1099 statement? From reading the W2G instructions, it seems that the W2G statement is only relevant for GAMLING winnings. In my ca… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,763 satisfied customers
Tax attorney: I'm trying to figure out wether or not if
Tax attorney: I'm trying to figure out wether or not if I need to claim my winnings from playing daily fantasy sports. What is the dollar amount? Do they have to send me a 1099?… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
my questions is about gambling. I had a loss year but
my questions is about gambling. I had a loss for the year but my accountant has informed me that if I win 2000.00 at one casino and then go to another casino and lose it, I still have to claim it as a… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,646 satisfied customers
I'm doing my taxes and I reported 50k in gamble winnings from
I'm doing my taxes and I reported 50k in gamble winnings from casino with my w2g form. I paid 12.5k in taxes for it when I received my winnings. If I lost 50k for the year as well, can I put this numb… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,622 satisfied customers
Im 19 years old, and recently participated in a sports book. The
I'm 19 years old, and recently participated in a sports book. The sports book I participated in does not give in W-2G forms. I won quite a large sum of money. I do plan on reporting this. I was wonder… read more
Lawrence D. Gorin
Lawrence D. Gorin
Attorney at Law
J.D. (Juris Doctor)
49 satisfied customers
I have a problems with gambling and lost over $200,000. at
I have a problems with gambling and lost over $200,000. at state of conn., mohigan sun and foxwood also Rhod Island twin river. however mean while won $100,000. inbetwin loss. I have use Home equity l… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I had two large jackpot wins, on slot machines, last year ($10,000
I had two large jackpot wins, on slot machines, last year ($10,000 & $8,600.) I didn't keep records of my total gambling 'losses', as I'm new to this & have no idea how to properly do this. Can I esti… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
This year i have wwon and lost at the casinos and would like
This year i have wwon and lost at the casinos and would like to know how the win lost form works and how it pertains to my tax return and when should the casinos send it to me.… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
I have heard that this tax code pertains to gambling losses ...
I have heard that this tax code pertains to gambling losses vs wins as well. Is this true?… read more
Guru_Guy
Guru_Guy
Doctoral Degree
1,634 satisfied customers
I won $4000 at a Indiana casino slot(2007).I live in
I won $4000 at a Indiana casino slot(2007).I live in ohio.The casino took out Ind. tax state only.Should I still fill out a Ind. and Oh. state tax form.Also would I be able to claim my losses against … read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
HOW MUCH TAX DO YOU HAVE TO PAY ON WINNING THE PICK 4 ...
HOW MUCH TAX DO YOU HAVE TO PAY ON WINNING THE PICK 4 IN NEW JERSEY THE WINNING AMOUNT IS $3,500.00… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,197 satisfied customers
Tax status on casino sponsored slot machine tournaments.
Re: Federal Income Taxes When one participates in a casino sponsored slot machine tournament with a fee, are the winnings reported as gambling income or as other income? If there is a fee, but the cas… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x