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Gambling and Taxes with Gambling Author Jean Scott

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Steve Bourie, author of the American Casino Guide, interviews noted gambling author, Jean Scott, for her insight on gambling and taxes. Jean is the author of “Tax Help For Gamblers” and Steve asks her about what kinds of taxes U.S. gamblers must pay on their winnings, including federal, state and city. Other topics include: what winnings must be reported, how winnings must be reported, the tax differences between “recreational” and “professional” gamblers, when losses can be deducted against winnings, the procedures a casino will follow when you win a taxable jackpot, do you need to show your social security card to claim your jackpot? Plus, much more.

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Gambling and Taxes with Gambling Author Jean Scott

10 thoughts on “Gambling and Taxes with Gambling Author Jean Scott”

  1. In Connecticut we have two tribal casinos. Machines you get taxed $1,200.00 or more, on TABLE JACKPOTs $5,000.00 or more( not NON jackpot table wins). They take care of all the tax for you, whether you want to deduct state, federal, both, or none. As long as one doesn’t cash in more than $10,001.00 in chips, or a machine ticket, you are not obligated to pay tax. Period. That’s how Mohegan Sun operates at least. And why should one report it when it’s already paid??
    Honestly, my two cents. love the Govt. They enslave us every single day so they can love off. Catch one if you can govt 🖕. Very hard for them to catch people making a little extra money on the side, or just playing for fun. This lady can take her bs info and books and go pound sand.

  3. Turbo tax isn't letting me file my casino winnings. I did let them take the taxes out. So what am I doing wrong?

  4. question, I get it the table games when you hit the $3,000 limit in one bet they require the winner to fill out the casino form, but, if you win for example 3 smaller wins added up together is above the 3K limit, will the casino require the form to be filled out?

  5. My accountant just informed that a diary is not accepted to write off taxes. What is accepted by the IRS tp wrote off the losses as normally they are higher than the winnings? I’m lost! 😫Who in Vegas can help with that? I will not play more than 25C EVER AGAIN and will never ever pay the crooked IRS. IVE LEARNED MY LESSON!!!!!!!!!!!

  6. So they tax my money when I get from my job and then after I gamble… isnt that double taxing someone…

  7. the taxes for recreational gamblers and what can be written off has changed… maybe time to redo this video.

  8. Or you could avoid recording gambling winnings altogether by playing table games only (no higher than green chip level) and cashing out small enough amounts to avoid both 1) a currency transaction report for $10,000+ transactions 2) Suspicious Activity Reports for a series of transactions just barely under $10k, or if you're clever enough, insist on refusing to give ID and threaten legal action/gaming control board involvement if they don't cash out your significantly less than $10,000 transactions without ID.

  9. PLEASE ANSWER THIS QUESTION…
    Let's say I win 30,000.00, can I just play whatever they're going to tax me on a machine and claim that..?

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