Thread: Paying Tax at American Casinos
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Old 28th June 2009, 04:44 PM
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silcnlayc silcnlayc is offline
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I claim my losses to match any winnings. You cannot claim losses beyond that. Taxes are based on your net income after deductions so in realty, you do not pay taxes on gambling if you can claim the same losses.

The only time I had any taxes taken from my winnings was when playing the horses and I hit over $5000 on a race. They took a third out but I got that back when I filed taxes.

What was strange, the casinos never took a dime of my $6000 win for taxes but the online horse racing did.

I claim all wins at casinos and offset it with my losses there too. They keep track of this nowadays and you can get a statement online from your account to file with it if you need to nowadays.
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