Help! Form 1099-K. Never Heard of It Before

**Midwest Player** · 01-13-2023, 01:12 PM

I just started to look at my income taxes for 2022 and see something called a Form 1099-K. I didn't receive one yet, but think I might since between VIP Preferred and my Debit Card I had almost $700,000 in payments to me with over 500 transactions going both in and out of the online casino.

Of course, the online gambling winnings were only a small portion of this amount. I didn't receive any 1099-K last year.

Any insights into this Form 1099-K?

**21forme** · 01-13-2023, 03:11 PM

While taking breaks from shoveling snow, read this:

https://www.michigan.gov/-/media/Pro...24ab44cc1d8869

**Midwest Player** · 01-13-2023, 11:55 PM

Originally Posted by 21forme

While taking breaks from shoveling snow, read this:

https://www.michigan.gov/-/media/Pro...24ab44cc1d8869

Thanks for the read. However, the article is obsolete. Gambling losses can now be deductible in MI since on-line gambling became legal in 2021.
https://www.gambling.com/us/online-c...chigan-3532200

By the way, for the last couple of weeks just a dusting of snow. Very unusual for January, but I like it since my leg is still sore from falling off the ladder.