1/21: Aqueduct, Gulfstream (P4's)

[Gaelic Storm]

Another question I am hoping someone can help me with. Let's say, hypothetically, you and few friends go in on a pick 4 and hit it for large amount. Do you all get a W2 or does on person have to take it? Can it be split up in different amounts (1 person was in for 50% and 2 others had 25% each)?

[freddymo]

Originally Posted by Gaelic Storm

Another question I am hoping someone can help me with. Let's say, hypothetically, you and few friends go in on a pick 4 and hit it for large amount. Do you all get a W2 or does on person have to take it? Can it be split up in different amounts (1 person was in for 50% and 2 others had 25% each)?

I don't think the track will split the w2..Isnt better to give some fine SS collecting Senior Citizen 10% and move on?

[hockey2315]

Originally Posted by Gaelic Storm

Another question I am hoping someone can help me with. Let's say, hypothetically, you and few friends go in on a pick 4 and hit it for large amount. Do you all get a W2 or does on person have to take it? Can it be split up in different amounts (1 person was in for 50% and 2 others had 25% each)?

There's a form for this. Ask at the track/otb.

[blackthroatedwind]

You can split W2s with more than one person. I've done it.

[Scav]

http://www.irs.gov/pub/irs-pdf/f5754.pdf

They should have this form onsite, some do, some don't.

[asudevil]

Races are making me meshugina....

[Gaelic Storm]

Thanks for the info. I am still interested in any hedging strategies. Today, because of the 3 out 4's, we had every one covered but the 8. We thew in another $72 and played tri's 8/all/all. Was that smart, or just wasting money. Usually when that situation comes up there are more uncovered horses so the hedging becomes more difficult. Anyone have any strategies?

[hockey2315]

Just bet a win if you need the sanity insurance - but don't go crazy . . . no point in wasting money on hedging a horse you liked so little that he was the only one you didn't use. If the pay-offs are HUGE, like you're guaranteed several thousand minimum - then that's a different story.