Money Investing megathread extravaganza - Page 74

Originally Posted by eDave:
Personally, I wouldn't claim it. If they catch you, meh about the penalty. It's free money regardless. It's another gamble but you won't lose much. Drug dealers lose more though laundering.

Let it ride!

I'd agree with this unless they send him the 1099-whatever.
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Originally Posted by Amnorix:
Yeah, imagine they will send you a 1099-[whatever letter it is for gaming winnings].

You should definitely keep track of gaming losses in 2017 now, if you haven't been already, as losses can be used to offset winnings.

W-2G. Gambling winnings.

1099 is for Misc stuff like non-compensation employee or self employed, etc.
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Originally Posted by O.city:
I took 2 grand in cash and walked out with 14 g.

:-)

Holy hell man.

https://www.efile.com/taxable-gambli...-income-taxes/

Looks like it is just a flat 25% tax.

This link says you can only deduct losses if you itemize.

Personally, I'd just stick it in a savings account until tax time.

No W-2 G, I wouldn't report it.
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Originally Posted by Buehler445:
:-)

Holy hell man.

https://www.efile.com/taxable-gambli...-income-taxes/

Looks like it is just a flat 25% tax.

This link says you can only deduct losses if you itemize.

Personally, I'd just stick it in a savings account until tax time.

No W-2 G, I wouldn't report it.

It was the craziest shit I've ever seen.

Was up 2 grand thru Saturday, then sat night sat at the blackjack table with 1000, 100 dollars a hand minimum. Played about 1.5 hours and got to noticing my stack was getting a little bigger as I started betting more.

Colored up and had 8k
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Jesus man. I don't want to gamble that much cash. Maybe it is because I gamble a lot on weather but damn. I worked hard for coin. I don't want to give it to a casino - I have invariably bad luck.
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Originally Posted by Buehler445:
Jesus man. I don't want to gamble that much cash. Maybe it is because I gamble a lot on weather but damn. I worked hard for coin. I don't want to give it to a casino - I have invariably bad luck.

It was my 30th bday trip and I had been saving the cash for a while for it so I was prepared to lose it.

But it was pretty cool to have a 5000 dollar chip.
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Originally Posted by O.city:
It was my 30th bday trip and I had been saving the cash for a while for it so I was prepared to lose it.

But it was pretty cool to have a 5000 dollar chip.

Well done sir. Just Don't go back and let them have it back.
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Originally Posted by Buehler445:
Well done sir. Just Don't go back and let them have it back.

Oh I won't be returning for a while.

I took the cash and added some to my rainy day fund and the rest to my savings account, one for myself and one for the boys. Hopefully I can do somit good with it
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Originally Posted by O.city:
Oh I won't be returning for a while.

I took the cash and added some to my rainy day fund and the rest to my savings account, one for myself and one for the boys. Hopefully I can do somit good with it

Have you considered this?

http://www.ebay.com/itm/Important-Ca...r/152594503558
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Originally Posted by Rain Man:
Have you considered this?

http://www.ebay.com/itm/Important-Ca...r/152594503558

It was a close 2nd
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I'd be taking that $14k and heading back down there next weekend.

LET IT RIDE!!!!!!!
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Originally Posted by lewdog:
I'd be taking that $14k and heading back down there next weekend.

LET IT RIDE!!!!!!!

Did you look at the statue? It might change your mind.
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Originally Posted by lewdog:
I'd be taking that $14k and heading back down there next weekend.

LET IT RIDE!!!!!!!

My buddy that was with us was pissed that I went to bed on a heater like that.

He actually gave me 500 of his money to play with and I doubled it in 10 mins. I've never seen anything like it.

I felt like a high roller,till I actually went into the high roller area at the bellagio.then, not so much
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Originally Posted by eDave:
Personally, I wouldn't claim it. If they catch you, meh about the penalty. It's free money regardless. It's another gamble but you won't lose much. Drug dealers lose more though laundering.

Let it ride!

Originally Posted by lewdog:
I'd be taking that $14k and heading back down there next weekend.

LET IT RIDE!!!!!!!

THIS IS SO PERFECT FOR EVERYONE GIVING YOU ADVICE WITH YOUR WINFALL! :-):-):-)

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Originally Posted by Buehler445:
Jesus man. I don't want to gamble that much cash. Maybe it is because I gamble a lot on weather but damn. I worked hard for coin. I don't want to give it to a casino - I have invariably bad luck.

I'm the same way, I work too hard to risk it, because I have bad luck to begin with.
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