Need Some "Tax" Info from the Masses!

[atolunch]

Its a "signer" if the payout is greater than $600 to $1. I've had several .10c superfecta signers hits.

Am I missing something, what do you mean by it was played for $2, and wouldn't have to sign if played for $1?

My understanding is how much the ticket is played for has no impact on if its a signer or not. For example, if you play a ticket for $400 to win and the horse pays $4 to win, you'll cash for $800, but that's not a "signer" even though the payout exceeds the limit.

Please explain further, if I'm wrong.

Not trying to start trouble, just curious if I should be playing things a different way when I place wagers.

Thanks in advance.

[SniperSB23]

Originally Posted by atolunch

Its a "signer" if the payout is greater than $600 to $1. I've had several .10c superfecta signers hits.

Am I missing something, what do you mean by it was played for $2, and wouldn't have to sign if played for $1?

My understanding is how much the ticket is played for has no impact on if its a signer or not. For example, if you play a ticket for $400 to win and the horse pays $4 to win, you'll cash for $800, but that's not a "signer" even though the payout exceeds the limit.

Please explain further, if I'm wrong.

Not trying to start trouble, just curious if I should be playing things a different way when I place wagers.

Thanks in advance.

It is 300-1 AND $600 or more total. So if you had two separate $1 tickets that each paid $450 you wouldn't have to sign for them. If you had one $2 ticket that paid $900 you would have to sign for it. That's why it is better to break your tickets up.

[Scav]

Originally Posted by atolunch

Its a "signer" if the payout is greater than $600 to $1. I've had several .10c superfecta signers hits.

Am I missing something, what do you mean by it was played for $2, and wouldn't have to sign if played for $1?

My understanding is how much the ticket is played for has no impact on if its a signer or not. For example, if you play a ticket for $400 to win and the horse pays $4 to win, you'll cash for $800, but that's not a "signer" even though the payout exceeds the limit.

Please explain further, if I'm wrong.

Not trying to start trouble, just curious if I should be playing things a different way when I place wagers.

Thanks in advance.

Ok, no problem explaining. The tax code was written for $2 base tickets, so if you notice, it says either 300/1 or $602 per wager, or something to that effect.

Lets say you play these two tickets on the same race

$2 Trifecta 1 with 2,3,4,5,6 with 2,3,4,5,6 Total $40

$1 Trifecta 1 with 2,3,4,5,6 with 2,3,4,5,6 Total $20

The $2 trifecta payout is $800.

You would have to sign for the $2 ticket because it is over the 602 level, and you could walk up to a machine and put the $1 ticket in and there would be no problem because it isn't OVER the $602 level.

[atolunch]

Thanks!

I never knew about the 300/1 rule, always went by the $602.

Need to keep that in mind, especially if .50 tri's and .10 sups are available. Much better playing seperate multiple tix than one big one. Which was your point exactly, Scav, sorry, I can be a little slooowww sometimes.

Why make anything easy on the customers??

[ninetoone]

Originally Posted by atolunch

Its a "signer" if the payout is greater than $600 to $1. I've had several .10c superfecta signers hits.

Am I missing something, what do you mean by it was played for $2, and wouldn't have to sign if played for $1?

My understanding is how much the ticket is played for has no impact on if its a signer or not. For example, if you play a ticket for $400 to win and the horse pays $4 to win, you'll cash for $800, but that's not a "signer" even though the payout exceeds the limit.

Please explain further, if I'm wrong.

Not trying to start trouble, just curious if I should be playing things a different way when I place wagers.

Thanks in advance.

In the example of the $400 to win that pays $800, you're not signing, unless something has changed recently.

[robfla]

Originally Posted by ninetoone

In the example of the $400 to win that pays $800, you're not signing, unless something has changed recently.

that's what was originally said

[ninetoone]

Originally Posted by robfla

that's what was originally said

Yeah, I was just clarifying that not every bet over $600 is a signer, that's all.