Taxable Winnings

[Rupert Pupkin]

Originally Posted by DaHoss9698

Have you wagered at least $754, because if you have, and can prove it, it won't be held against you.

He will have to show that he lost at least $754 for the year. You can get a year end statement from TVG. If the statement shows that you lost money for the year, then you won't have any tax liability. If Euro had a winning year at TVG, then he will have to pay the taxes unless he can show other gambling losses. Maybe he won money at TVG but lost money on his actual trips to the track.