Law School Discussion

Are Gambling winnings taxable?

reachy

  • ***
  • 93
  • CLS, Here I Come!!
    • MSN Messenger - reachy@u.washington.edu
    • AOL Instant Messenger - reachy
    • View Profile
    • Reachy
    • Email
Are Gambling winnings taxable?
« on: May 29, 2004, 03:12:45 PM »
Just curious... Probably they are in your state, but what about online???

Ginatio

Re: Are Gambling winnings taxable?
« Reply #1 on: May 29, 2004, 03:14:28 PM »
My motto is: If the money can't be traced to you, then it's not taxable...

Just curious... Probably they are in your state, but what about online???

thechoson

Re: Are Gambling winnings taxable?
« Reply #2 on: May 29, 2004, 03:50:04 PM »
yes, it is taxable.  Losings are deductible from those winnings though.  But if you have net winning, then it is taxed