vpFREE2 Forums

$1200 W2G

#1

Technically - yes.

In a message dated 11/21/2005 12:11:34 PM Eastern Standard Time,
jbqueru@gmail.com writes:

Is that a way of saying that if I put $10 in a JoB machine (dollar,
5-coin), hit 2P (win $5) and then hit nothing (lose $5), finally
walking away with $10, I would owe taxes on my $5 winnings?

JBQ

>Plus, he
>owed State income tax to Michigan on all those W2G hits, since the State
will not
>allow fading the wins with losses.

[Non-text portions of this message have been removed]

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On 11/21/05, Marksalot300@aol.com <Marksalot300@aol.com> wrote:

#2

And it could even be worse than that. If you got a statement from
the casino for the series of two hands described below, it would
show "Coin in = $10, Coin out = $10". The state of Michigan would
likely interpret this to mean that you had $10 in winnings, and you
would owe state taxes on $10.

EE

Technically - yes.

In a message dated 11/21/2005 12:11:34 PM Eastern Standard Time,
jbqueru@g... writes:

> Is that a way of saying that if I put $10 in a JoB machine

(dollar,

···

--- In vpFREE@yahoogroups.com, Marksalot300@a... wrote:

> 5-coin), hit 2P (win $5) and then hit nothing (lose $5), finally
> walking away with $10, I would owe taxes on my $5 winnings?