He"s Mad he Won on Video Poker

[sam434343]

Okay, reading some of the other posts made me think of this. With in the last year and half Foxwoods man playing 3 play VP DDB .25c . Now he is not far from where I was playing on single line, I hear him kinda complaining so I look over to what going on, he was dealt four Aces with 2 kicker $500 each hand total $1500, now the machine freezes up and he has to get hand pay. Now I stop playing because he was still complaining, and said to him you won congratulation, whats the problem, he was so upset that he was going to have pay taxes on the win, he went on to tell me he hit RF earlier in the day and didn't have to pay taxes(under $1199), but this hand was going to have to pay taxes, I did say atleast you won I am in the hole or something like that. This all went on for like(aprox.) ten minutes. Now I know all VP get little upset they have pay taxes, but we are 90% happy we won to pay taxes(10% upset or less have to pay taxes) When I walk away he was still complaining. (lol) Never see anything like that before, anybody on this site see something like that(or similar) on a win? Sam

[GrannyJ]

This may sound a little strange to some people. But when my husband or I hit a "jackpot" that has taxes collected, we just tell ourselves this amount is going to our savings account and hope we can collect in April.

[dbldbl scotty]

unless they hold the taxes on the spot, not sure why he is upset - must be new to gambling. sign your forms - dont hold any taxes unless required (ie out of state), you can write off your losses at the end of the year.

trust me, if your paying 3 line video poker, you will be able to write off $1500 at the end of the year...

[onemoretry]

Aren't you supposed to report, and pay taxes on, all winnings, not just those for which forms were issued?

[UptightTO]

I've heard the amount the government requires you to pay taxes on hasn't been adjusted upward for a number of years...perhaps someone else can address that issue...having said that...if after winning many smaller hands I were to accumulate $10,000 in winnings at a table game...I could avoid paying taxes...but if you're playing a slot machine where every play is recorded...you're stuck...Frankly it irritates me...most of us lose...but don't keep detailed records of our expenses...We go to casinos to get away from it all and the ever increasing demands for record keeping necessitated by the abominable income tax are an ever present monkey on our back......

Case in point...I was fortunate to win several jackpots one year...and dutifully attached all the 1099's and my win loss reports to my tax return...or so I THOUGHT...evidently I missed a $1200.00 win and the I.R.S. sent me a bill...Now...had I gone to the trouble of documenting my every expense I could have easily produced more than enough losses to negate the tax. But, not having those receipts...I decided to avoid the mind numbing hassle with some faceless bureaucrat and pay a tax I really didn't owe...

Bottom line... I venture a guess many of you secretly resent the tax man looking over your shoulder 24/7 and the fact that high rollers who win big at table games can easily avoid taxes...the "Queen of Mean" Leona Helmsley once said.." only little people pay taxes" and unless I've got this all wrong...she was right on when it comes to us little folk who enjoy VP at smaller denominations...

OK that's my rant....I'm sure others have their own take on this issue...fire away...P.S. I am not some anti tax zealot...taxes are the price we pay for freedom...I am however...a believer in the Fair Tax...but that's another discussion on another web site...

[spxChrome]

$1,200 really is a joke this day and age. I wish they would change it to at least $2100. Save me a shoebox full of AWAK W2. I don't think its been changed since The early 90's?

[BillyJoe]

$1,200 really is a joke this day and age. I wish they would change it to at least $2100. Save me a shoebox full of AWAK W2. I don't think its been changed since The early 90's?
With the government broke, even though it should be changed, don't look for that W2G clip level to be adjusted up any time soon.
 
To answer Onemoretry's point above - Yes, all gaming winnings are subject to Federal taxation, as well as state taxes in many states.

[chattycattty]

I remember when I was first learning to play DDB. I was grinding away and not seeing any 4oak's. The older lady next to me seemed to be hitting 4 oak's every ten spins or so. On one spin in particular she held 1 ace and drew 3 other aces but not a kicker. She was just beside herself and complaining that she did not get the kicker.

I am grateful for any 4oak I get let alone a handpay. I don't understand how the lady next to me or the gentleman you mentioned at the start of this topic can win with this type of attitude.

[sam434343]

chattycaltty,(lol) I agree get four aces drawing on one and still complaining(we always want more I guess)(lol) I agree chattycaltty with your last two sentences. Billyjoe, is right government is broke and believe it or not so are bunch of states, so lets open more casinos,we need to extract more money from the people. You can only come up with so many ways extract money from people and try and put a smile(casinos)(lol) on there face while there taking your money. (yes in some ways it is crop!) Sam   

[Minn. Fatz]

Takes all kinds to make a world I guess. There's people who if the casino was handing out dollar bills at the door would complain the one they got was wrinkly. I suspect something else is going on there besides the poor guy having to pay some tax.