Contact the casino to get a replacement copy. Were taxes withheld on the 1099 as is often the case? You were probably asked if you wanted taxes withheld at the time they paid you. The IRS is going to want to see gambling winnings on you tax return at least in the amount of your 1099. They might assume you even had more gambling winnings if audited. However as 21forme pointed out, this is computer matched and is easily flagged if not reported.
Email: [email protected]
This is the service I use. It will do all your calculations for you. You should have received a 1099G for the $15K tourney win and you would enter the data from the 1099G to the program, including the State tax paid, and the program will calculate how much you owe or are due back in a refund.
The federal tax will be based on the $15K.
Yes, I pay for the premium service so I can call them if I have any questions; the cost is a write off, so it is worth it.
It is also worth it to file electronically and to have a refund deposited directly to your bank account.
https://www.taxslayer.com/
Last edited by Wave; 04-01-2020 at 09:25 PM.
Contact the casino and get a replacement 1099 or a photocopy of their copy. There are numbered boxes or lines on these forms and the instructions say where to put each item.
Email: [email protected]
Tomorrow I'll look at some old returns and see if I received any 1099MISC and how I filed.
When you claim the winnings on your federal return you should claim the entire $15K. Like I said earlier, if you use the program it will take care of this automatically and prepare your state and federal returns. All you do is enter the data from your W2, 1099, etc., and the program makes the calculations.
Last edited by Wave; 04-01-2020 at 09:52 PM.
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