Quote:
|
Originally Posted by Port Conway Lane
That is one advantage of playing at the track vs. an ADW which would report the four 50 cent tickets to the irs.
Can anyone answer this one:
If I broke even during the course of the year wagering through the ADW sites I use, would there be a tax liability on the money that one of those sites gives me ?
(This ADW deposits $100 per month in my account when I deposit and wager $100 by the 15th of each month. By the end of the year if I broke even on my wagers I would have $1,200 in my account.)
|
Of course, it is just like interest income.
Hell, I opened a bank account a couple of years ago and was given like $20 in Corningware--got a 1099 for that, too.