I would like to know how those of you who go on "free" casino cruises handle the taxes on this gift. Seems to me that they could get pretty expensive after being taxed on what the IRS considers the value of the cruise.
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So far I've been on about 1/2 dozen free cruises based on casino play, and never once have I received a 1099 tax form for a cruise. But other people have posted just the opposite experience. Apparently it depends on which casino chain is offering the cruise.
EE
--- In vpFREE@yahoogroups.com, Bonnie and Dennis Zegar <ezbzdz@...> wrote:
I would like to know how those of you who go on "free" casino cruises handle the taxes on this gift. Seems to me that they could get pretty expensive after being taxed on what the IRS considers the value of the cruise.
We get free cruise "certificates" from Ballys AC for Norwegian all the time
since the same parent company owns both - we have taken advantage of 2
"free" cruises - tax/port charges have to be paid directly to the cruise
line - and we have not received 1099s for either cruise!
-----Original Message-----
From: vpFREE@yahoogroups.com [mailto:vpF…@…com] On Behalf Of
eecounter
Sent: Monday, February 28, 2011 9:29 AM
To: vpFREE@yahoogroups.com
Subject: [vpFREE] Re: Casino cruises
--- In vpFREE@yahoogroups.com <mailto:vpFREE%40yahoogroups.com> , Bonnie and
Dennis Zegar <ezbzdz@...> wrote:
I would like to know how those of you who go on "free" casino cruises
handle the taxes on this gift. Seems to me that they could get pretty
expensive after being taxed on what the IRS considers the value of the
cruise.
So far I've been on about 1/2 dozen free cruises based on casino play, and
never once have I received a 1099 tax form for a cruise. But other people
have posted just the opposite experience. Apparently it depends on which
casino chain is offering the cruise.
EE
[Non-text portions of this message have been removed]