best win
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Eduardo
- Video Poker Master
- Posts: 2954
- Joined: Thu Aug 31, 2006 7:19 pm
Re: best win
I think I might have kept that to myself. I think that Eduardo guy is IRS.Did you say IRS or INS? Either way, I wish, I wish!!! They make more than me!
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babybubba
- Senior Member
- Posts: 291
- Joined: Fri Apr 20, 2007 9:18 pm
[QUOTE=babybubba][QUOTE=chuck arl]Always remember, with good hits as seen above the tax man always cometh. Boo Hiss!!!
Chuck: Just remember--A W2G is the same thing as a JACKPOT. I want as many as I can get in a year.[/QUOTE]
The one thing that bothers me is that nobody ever discusses/analyzes the impact of W2G's on those of us who live in states with an income tax. It's always taken for granted that you will write off your wins on the 1040, but when it comes to the state side of the equation- generally, you're screwed.[/QUOTE]
I don't understand that, and maybe it's because of limited state exposire. In Az. all we do is carry our figures over from the Fed return to the State return. And since state liability is far less than Federal liability, it's never a big deal.
Chuck: Just remember--A W2G is the same thing as a JACKPOT. I want as many as I can get in a year.[/QUOTE]
The one thing that bothers me is that nobody ever discusses/analyzes the impact of W2G's on those of us who live in states with an income tax. It's always taken for granted that you will write off your wins on the 1040, but when it comes to the state side of the equation- generally, you're screwed.[/QUOTE]
I don't understand that, and maybe it's because of limited state exposire. In Az. all we do is carry our figures over from the Fed return to the State return. And since state liability is far less than Federal liability, it's never a big deal.
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