Tax Ticket Question

[Port Conway Lane]

Originally Posted by tector

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.

That is what I figured. I don't expect to get a 1099 on any of that money they match.Technically that is reportable income and I'm guessing it falls under the category of a gift.
If I was to lose $1,200 wagering during the year I assume I would not be able to offset the "gift" with my losses.