How much gambling winnings do someone have to claim?

[kayode10]

There was a time I had some of my friends discussing about the taxes in percentage reduction on the gambling winnings. but they were not talking about the actual price the person receive.

One of the questions I want to ask you guys is that How much gambling winnings do someone have to claim? I will be glad if anyone you can tell me in the comment section below.

 

[Btaliat]

No matter amount of gambling that you take, there must be tax. The only thing that may exempt you from tax will include if your country doesn't tax gambling. Those that play online has been taxed before they sent the money to the winners.

 

[Hannman]

Is tax really on every winnings in casino or it's only on big winnings or jackpot. It's actually strange that you still have to pay tax on winning casino games when government is not responsible for the amount you use to play the game. It's good that it's not happening here

 

[Btaliat]

Is tax really on every winnings in casino or it's only on big winnings or jackpot. It's actually strange that you still have to pay tax on winning casino games when government is not responsible for the amount you use to play the game. It's good that it's not happening here

Some countries do not really charge the players of the Casino, rather who they charge is the company. But it is not really a good thing for the government to be charging when they have not put in place the right thing.

 

[uka]

You can claim as many as you win, it doesn't matter how many you can claim All that matters is for you to be lucky to win, and no matter The amount of money you you won they must be tax to pay, but hear In my country we don't pay tax

 

[swift]

I think some countries actually charge value added tax on your betting slip , depending on the gambling companies ,there are some that charges about 5 percent , some actually charges more and others , depending on the person gambling

 

[Hardexy1]

You can claim as many betting winings as you like especially in my region where no charges is been applied, unlike other countries where you will need to pay taxes on every wining ticket before getting the money

 

[Julio88]

There was a time I had some of my friends discussing about the taxes in percentage reduction on the gambling winnings. but they were not talking about the actual price the person receive.

One of the questions I want to ask you guys is that How much gambling winnings do someone have to claim? I will be glad if anyone you can tell me in the comment section below.

Taxes that are placed on proceeds from gambling are always charged irrespective of how many times a player wins a casino game. Obviously the amount you will claim is dependent on what you earned and the percentage of taxes deducted

 

[Moneyspinning]

Well, one thing for sure is you Have to Report All Your Winnings Whether it's $5 or $5,000, from the track, an office pool, a casino or a gambling website, all gambling winnings must be reported on your tax return as "other income" on Schedule 1 (Form 1040) (opens in new tab).

 

[Julio88]

Well, one thing for sure is you Have to Report All Your Winnings Whether it's $5 or $5,000, from the track, an office pool, a casino or a gambling website, all gambling winnings must be reported on your tax return as "other income" on Schedule 1 (Form 1040) (opens in new tab).

Your point is valid. I think that these forms of earning are all recorded on your tax returns since they are taxable and it is important for you to take note of this because you could be asked to provide tax claims

 

[WinJonny]

You may submit as many claims as you are successful; there is no limit. All that matters is that you are fortunate enough to win, and regardless of how much money you have won, you must pay taxes on it, but listen We do not pay taxes in my nation.

 

[WinJonny]

There was a time I had some of my friends discussing about the taxes in percentage reduction on the gambling winnings. but they were not talking about the actual price the person receive.

One of the questions I want to ask you guys is that How much gambling winnings do someone have to claim? I will be glad if anyone you can tell me in the comment section below.

No of how much gaming you do, taxes must be paid. Only if your nation doesn't tax gambling will you be excused from paying taxes. Before they distributed the winnings to the winners, internet players paid taxes.

 

[Julio88]

No of how much gaming you do, taxes must be paid. Only if your nation doesn't tax gambling will you be excused from paying taxes. Before they distributed the winnings to the winners, internet players paid taxes.

Your point is absolutely valid. The taxes are deducted from the winnings before the victor even receives these funds, so it is important to note this. I think VAT and other taxes are levied on the winnings

 

[Julio88]

I think it depends on the person. It depends on how well the person needs the money. Some people claim half of it and leave half so that they can gamble with it again while some people claim all.

You are right. Every single gambler has a different approach when it comes to withdrawing winning amounts. Overall, I think the only negative thing a gambler could do with these funds is to reinvest them in casino games