Thread: Taxman Cometh
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Old 01-30-06, 01:09 PM
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iceberg iceberg is offline
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Default Tax Time
Now that it is tax time, what are the implications in general with Uncle Sam? Is there a maximum dollar figure that is tax-free for gambling? Just curious if anyone knows how the IRS treats gambling income.

At one time I heard that anything under $600 was tax-free. Money comes and goes out of casinos like water, so what are the rules?

The casinos automatically deduct tax money from big slot machine wins. How about big Poker Tournaments? Just thinking aloud.

Iceberg.
Last edited by iceberg : 01-30-06 at 01:12 PM. Reason: Adding comments
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