W2G's on triple play machines

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Chuckwagon
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Joined: Mon Nov 05, 2007 12:43 pm

W2G's on triple play machines

Post by Chuckwagon »

At two different casinos in Las Vegas I was dealt a royal flush. They were quarter machines.  Each paid $3000.  At one casino I was given a W2g and the other said that I wouldn't recieve a W2g because they consider each play as a separate game.  Which means I won a $1000 per line and each line was treated separately.  Does anyone know what the rules are on a situation like this?

crazydon
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Joined: Sun Nov 04, 2007 2:17 pm

Post by crazydon »

As you've seen it will vary as does almost everything involving IRS and gaming wins.  On 100 play I have had enough  filled .25 $1K
wins to get a W2G. My only delt  .25 on 3X was in Bossier City and Boomtown issues  the W2G as LA likes to take out state tax as well and has to ask if you like IRS included to do so.  I refuse.  Playing above $5 5X play is a constant W2-G proces and actually get way behind at times.   Hi limits will ease it by resetting quick so you continue to play.
 
THere's so much confusion that  it allows EXPERTS to sell bad info and none try prove them wrong. I've been through Tax Court and have been deemed a professional gamer so ignore W2-G but file Sched C and 1099 Misc income with expenses reducing wins. License to steal but I'd not advise the process as THAT's! a rigged bet! "Find for the IRS " is std decision.  BUT I'm well along in more than that back since the '01 decision.  Live with the confusion and, really, 2 delt RF is  more than many ever get. Enjoy. CD

shadowman
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Joined: Mon Oct 23, 2006 5:42 pm

Post by shadowman »

I believe the vast majority of casinos will issue a W2G for any single "play" that results in a win greater than $1199. In fact, I have yet to encounter one that doesn't.
 
This goes beyond the RF situation. On $ multiplay machines you will often see a dealt set of quads go over $1199 on a bonus game. I've always seen the casinos issue the W2Gs in this case. 

crazydon
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Joined: Sun Nov 04, 2007 2:17 pm

Post by crazydon »

 
Idea being don't need to  accept a VP loss as IRS idea of a  minus. ALWAYS post losses to equal wins . If serious player , act as a business which IRS ALWAYS accepts with any serious asserted  player. Is their rule and they have no idea what they mean. Act as if you do and they have no answer. Lady/Guy tax examiner says daaahhh ? You are a gambler? Never met one. Can I do that?  CD

cddenver
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Joined: Tue Mar 13, 2007 9:54 pm

Post by cddenver »

At two different casinos in Las Vegas I was dealt a royal flush. They were quarter machines.  Each paid $3000.  At one casino I was given a W2g and the other said that I wouldn't recieve a W2g because they consider each play as a separate game.  Which means I won a $1000 per line and each line was treated separately.  Does anyone know what the rules are on a situation like this?
 
I wasn't aware that casinos had discretion to treat wins like that different ways.  All of the places I've ever been to where I've had nice hits on multiple lines have treated them as one jackpot, giving me a W-2G if they added up to $1200 or more.

faygo
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Joined: Tue Jan 09, 2007 6:55 am

Post by faygo »

My only one was a Dealt Royal On a .25 TP Kings or Better Joker , different progressives   on each line. Total payout 5400. No W2G. I fortunately was in Canada eh!
 
Claimed it though!

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