1099-misc for the NHC

[Scav]

Originally Posted by VOL JACK

I meant that, I play in quite a few contests (although not nearly as many as Paul) I have never heard of a track doing this, it is a pretty low blow.
You think anyone would pay $$ to enter their contest had they known this upfront?

So Jack, you only get 1099's if you 'win' flight,room, etc?

[NTamm1215]

This is completely unheard of to me and almost seems like it had to be a mistake. I received 1099s for prize money in 2014 and have in the past. Both of the sites where I qualified last year sent 1099s with travel included. That is the standard procedure.

If Monmouth was touting how they give out more NHC spots than any other racetrack (which they did at the NHC) and they are actually passing through the cost to the players, then that's pretty wretched.

[VOL JACK]

Originally Posted by Scav

So Jack, you only get 1099's if you 'win' flight,room, etc?

yes

[Scav]

Originally Posted by VOL JACK

yes

Wow...There must be some kind of loophole somewhere because in theory, all prize winnings are taxable. Wonder if tourneys keep growing if our lovable friends will go for the money grab regarding it.

(its probably related to same theory that where if you go to the track or casino, you are suppose to report EVERY SINGLE ticket or hand you win as income)