Tuesday, June 6, 2017
[vpFREE] Re: Gambling and 1099's
Karen wrote: "Rampart has for several years issued 1099 instead of W2G even when I've signed for a W2G. I assume there is some benefit to them."
My guess is the 1099 means it's probably coming out of their general promotional budget. At the casino, that's probably good for the player, the casino is much more likely to penalize players for W2G wins than for 1099 gifts. From a tax basis, the player prefers to get W2G's, 1099's can be a problem. You may have to establish that it's not really a free gift if you actually had to gamble to qualify.
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Posted by: nightoftheiguana2000@yahoo.com
vpFREE Links: http://www.west-point.org/users/usma1955/20228/V/Links.htm
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