<div class="bbWrapper"><blockquote data-attributes="" data-quote="HateMG" data-source=""
class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">
<div class="bbCodeBlock-title">
HateMG said:
</div>
<div class="bbCodeBlock-content">
<div class="bbCodeBlock-expandContent js-expandContent ">
I'm not sure about online casinos, but in AC they would issue a W2-G form if your jackpot in a slot machine excedes $1,195. There are even some slots with such top winnings so you don't have to pay taxes. One year I had several jackpots greater than $1,195 on VP machines for total of close to 11K. It's treated as your income and has to be shown in 1040 form. I requested a win/loss record which was over 11k, so I deducted this amount (up to your total jackpot winnings) on schedule A.
</div>
<div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div>
</div>
</blockquote><br />
$1200 is the limit for W2-G on slots (including VP and video BJ, etc.). All winnings are taxable in the US even if you don't get a W2-G, it is just harder for the IRS to trace you. If you had to show ID and provide SSN every time you cashed out and all your transactions were reported, Las Vegas would have to close down.<br />
<br />
<blockquote data-attributes="" data-quote="gfkostas" data-source=""
class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">
<div class="bbCodeBlock-title">
gfkostas said:
</div>
<div class="bbCodeBlock-content">
<div class="bbCodeBlock-expandContent js-expandContent ">
I wonder if you hit a stud poker royal flush jackpot in the UK which at times is over 400,000k you dont have to report it to the relevant tax office? You can just put them in the bank and nobody enquires about it? Hm
</div>
<div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div>
</div>
</blockquote>Gambling winnings are tax-free in the UK. You can win a million pounds on the lottery and not pay any taxes on it.</div>