vpFREE2 Forums

Income Tax Question - Stations Drawings

#1

The Stations' drawings allowed the option of cash or free play to winners.
For example, $2500 cash or $3000 freeplay. For a selection of the freeplay,
is the 1099 issued for $3000 or $2500? If $3000, is it reasonably arguable to
value it at $2500? Thanks.
                                        =Daniel
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#2

The Stations' drawings allowed the option of cash or free play to

winners. For example, $2500 cash or $3000 freeplay. For a selection of
the freeplay, is the 1099 issued for $3000 or $2500? If $3000, is it
reasonably arguable to value it at $2500? Thanks.

                                        =Daniel

The root question is..."Does freeplay added to your card even generate
a 1099?"...your e-mail assumed that it does, but I'm not sure that is
true.

Has anyone out there received free play of $600 or more? Did you get a
1099 from the casino? ($600 is the threshhold for mandatory 1099s).

Don the Dentist

···

--- In vpFREE@yahoogroups.com, ddisesa@... wrote:

#3

The root question is..."Does freeplay added to your card even

generate a 1099?"...your e-mail assumed that it does, but I'm not sure
that is true.

Has anyone out there received free play of $600 or more? Did you get

a 1099 from the casino? ($600 is the threshhold for mandatory 1099s).

I have received a $1000 free play coupon in the mail before. I
changed it at the cashier for several smaller denomination free play
coupons. No mention of any 1099 was ever made.

I don't recall ever winning $600 or more free play in any drawing
before, so I can't answer for that scenario.

EE

···

--- In vpFREE@yahoogroups.com, "dds2124" <dds6@...> wrote:

#4

they don't issue a 1099 for the freeplay option.

cheers,

five

···

On Mon, Dec 29, 2008 at 10:57 PM, <ddisesa@aol.com> wrote:

The Stations' drawings allowed the option of cash or free play to winners.
For example, $2500 cash or $3000 freeplay. For a selection of the freeplay,
is the 1099 issued for $3000 or $2500? If $3000, is it reasonably arguable to
value it at $2500? Thanks.

#5

I have never gotten a 1099 for free play, even thousands of dollars
worth.

They dont care about it because if you hit $1200 or more you get a
W2G and then its reported.

If there is a choice I almost allways take the free play.

Simple!

Quads4all

> The Stations' drawings allowed the option of cash or free play

to winners.

> For example, $2500 cash or $3000 freeplay. For a selection of

the freeplay,

> is the 1099 issued for $3000 or $2500? If $3000, is it

reasonably arguable to

···

--- In vpFREE@yahoogroups.com, fivespot <fivespot55@...> wrote:

On Mon, Dec 29, 2008 at 10:57 PM, <ddisesa@...> wrote:
> value it at $2500? Thanks.

they don't issue a 1099 for the freeplay option.

cheers,

five