Trump's Big Beautiful Bill

[Hiker1]

…This is a reckless debt that we are passing on to our children and grandchildren. …

Agree

[olds442jetaway]

Evidently legislation called the Fair Bet Act has been introduced to bring the gambling deduction back to the way it was before the BBB. What happened was the Senate snuck in the 90 percent limitation before the bill was sent back to the House to then be submitted for Trump’s signature. Guess we will have to see how it goes.

[Tedlark]

I just read that the W2-G threshold for casinos has been raised to 2,000.00, up from the current 1,200.00. There is still talk of raising it further.

[dinghy]

I just read that the W2-G threshold for casinos has been raised to 2,000.00, up from the current 1,200.00. There is still talk of raising it further.

I suspect that's fake news. Time will tell.

[dinghy]

Russ Fox says pump the brakes:

https://taxabletalk.com/2025/07/15/did- ... iful-bill/

[Tedlark]

Thank you for your research

[dinghy]

Thank you for your research

Media attention surrounding this stuff could work to our improvement. If they increased 1099s from $600 to 2000, the equivalent increase for slot w2gs would be from $1200 to 4000.

I know people were hoping for 5000, but this (the 1099s) has an inflation-indexing component which is helpful.

[dinghy]

And we're still unresolved afaik. A strict reading of the legislation seems to exclude w2gs from the threshold relaxation. But at least one expert believes w2gs are functionally included.

I think VMB forum is still locking new threads on the topic.

[olds442jetaway]

Behind the scenes stuff going on. Unless there is a hammer to hold over Congress head on this, we may be screwed. My instinct though says the hammer is still in the forge being finished up. Click on casino.org and read stuff for the last 5 days or so. Problems in the text, wording, etc. More to come on this. Some in Congress are adding crap to the bill and its improved form that has been proposed so who knows what will happen next good thing there’s a little time before next January. Just realized Dinghy, you already read what I’m talking about

[dinghy]

The 1099 increase may be useful if you win a slot tournament or drawing. Free play prizes are becoming more common, but some casinos still award cash or merchandise.