vpFREE2 Forums

Winnings in Drawings

#1

Arizona Charlie's is sending out 1099 slips (for the tax year 2003)
for the accumulated amounts of winnings in drawings. The largest
individual amount I won was 500 Dollars, but mostly much less. But I
hear from other sources that winnings of 600 Dollars or less are not
subject to a 1099 Form. Does anybody know something about this?
Helmut

#2

Yes, total winnings of $600 for the year are subject to a 1099 even if you
never won that much at one time. Some casinos follow the law and distribute
1099's if your total for the whole year is $600 or more. A lot don't bother
unless you win $600 or more at one time. They are not complying with the
law.

···

-----Original Message-----
From: helmut89117 [mailto:hewol…@…net]
Sent: Sunday, February 22, 2004 4:10 AM
To: vpFREE@yahoogroups.com
Subject: [vpFREE] Winnings in Drawings

Arizona Charlie's is sending out 1099 slips (for the tax year 2003)
for the accumulated amounts of winnings in drawings. The largest
individual amount I won was 500 Dollars, but mostly much less. But I
hear from other sources that winnings of 600 Dollars or less are not
subject to a 1099 Form. Does anybody know something about this?
Helmut

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#3

Yep, Randy is right on. So, if you won a different drawing for $100
or more, they should send you a 1099.

Are casinos required to send 1099's by a certain date each year?

Yes, total winnings of $600 for the year are subject to a 1099 even

if you

never won that much at one time. Some casinos follow the law and

distribute

1099's if your total for the whole year is $600 or more. A lot

don't bother

unless you win $600 or more at one time. They are not complying

with the

law.

From: helmut89117 [mailto:hewolf12@e…]
Sent: Sunday, February 22, 2004 4:10 AM
To: vpFREE@yahoogroups.com
Subject: [vpFREE] Winnings in Drawings

Arizona Charlie's is sending out 1099 slips (for the tax year 2003)
for the accumulated amounts of winnings in drawings. The largest
individual amount I won was 500 Dollars, but mostly much less. But

I

hear from other sources that winnings of 600 Dollars or less are

not

subject to a 1099 Form. Does anybody know something about this?
Helmut

vpFREE Links:

http://www.west-point.org/users/usma1955/20228/VP/Links.htm

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Service

···

--- In vpFREE@yahoogroups.com, "Randy C" <randyc@u...> wrote:

-----Original Message-----
<http://docs.yahoo.com/info/terms/> .

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#4

Thanks, Randy for your info, but I have one more question to ask you:
when they saked me to sign a statement for each of those large numbers of small individual winnings, were they not supposed to give me a copy of each statement? Do you think I have to accept their summary 1099 statement as such and declare it to the IRS or should I ask them to send me a copy of each statement I signed?
Helmut

···

----- Original Message -----
  From: Randy C
  To: vpFREE@yahoogroups.com
  Sent: Sunday, February 22, 2004 8:15 AM
  Subject: RE: [vpFREE] Winnings in Drawings

  Yes, total winnings of $600 for the year are subject to a 1099 even if you
  never won that much at one time. Some casinos follow the law and distribute
  1099's if your total for the whole year is $600 or more. A lot don't bother
  unless you win $600 or more at one time. They are not complying with the
  law.

  -----Original Message-----
  From: helmut89117 [mailto:hewol…@…net]
  Sent: Sunday, February 22, 2004 4:10 AM
  To: vpFREE@yahoogroups.com
  Subject: [vpFREE] Winnings in Drawings

  Arizona Charlie's is sending out 1099 slips (for the tax year 2003)
  for the accumulated amounts of winnings in drawings. The largest
  individual amount I won was 500 Dollars, but mostly much less. But I
  hear from other sources that winnings of 600 Dollars or less are not
  subject to a 1099 Form. Does anybody know something about this?
  Helmut

  vpFREE Links:

  http://www.west-point.org/users/usma1955/20228/VP/Links.htm

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  <http://docs.yahoo.com/info/terms/> .

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