I looked around and could not find an answer.

I played two tournaments this weekend and both said that winnings under 5k are not taxed? One of these cashes came at the WSOP for under 5k.

The lady at the WSOP cage said they changes the rule a few years ago and neither place took out anything.

Anyone have a link for official clarification?

Any prize that's $5k over the buyin gets a tax form. So if you played a $200 buyin, you'd need to cash for $5,200 or more to get a tax form. You're supposed to pay tax on your winnings either way...

How is this done with foreign players?
Im from the netherlands and need to play 29% tax on ANY winnings.
Do i also have to pay taxes in the US/Vegas?

Rob makes a good point, the form just means you're going to get caught for sure if you don't report the winnings and pay the necessary taxes. If you're just winning a couple hundred here and there then you're probably fine to not worry about it. But if you're a winning player and play often or if you have even 1 big score you really shoud make sure to keep detailed records and make sure you're paying taxes on your winnings so you don't get dinged in an audit.

Not saying anyone here isn't, but the price you'll pay if you get caught far outweighs the savings of not paying the taxes initially.

Find out if the Netherlands have a double taxation treaty with the US. They probably have.

If you're from the Netherlands, you won't get taxed in the US.

http://www.rumbaklaw.com/resources-a...s-with-the-u-s

thanks a bunch!

Thanks for the replies. I'll probably just be safe and declare it. I saved everything (airfare, car, hotel, etc) and will just make sure.

Unless you are a professional gambler and file a Schedule C, the airfare, car etc are not deductible from your gambling winnings. The gambling winnings are reported on the first page of you US tax return, under misellaneous income, and your gambling losses are an itemized deduction reported on Schedule A. The airfare etc are not gambling losses.

Could you elaborate on this?

I am an Australian. If I travel to the US and cash in a $1500 WSOP event for $4k, I wont be subject to the withholding. I cash my money, and a couple days later leave the US back home.

But you say "you're supposed to pay tax anyway...". So should I be filing a US Tax return for my win despite being an Aussie resident and living in Australian and just visiting for a holiday?

How far does it stretch? Do I also need to include all my pit losses/wins? And poker cash game wins/losses?

Best place to learn more about taxes on poker in the U.S. is the US Taxes sticky in the Legislation Forum. It should answer all the questions for both US citizens and visitors from out of the country.

A few years ago I was with my accountant going over taxes and declared my tournament earnings. I ended up owing money instead of getting money. Screw that I said, and made him redo the taxes ignoring poker winnings.

Fair enough, just don't go posting this saga anywhere on the Internet and you'll be just fine!

So your accountant is aware that you hid income from the federal government and he assisted you in the commission of a felony.

Now ask yourself, if he is willing to do that for you just because you told him to, how much is he stealing from you when you aren't there to watch him?

In other words, a reputable accountant will not conspire to hide money from the IRS because WHEN you get caught, he will be caught too.

I hate to break it to you but federal income tax is not constitutional it's against the founding principle of this country and no American has ever paid income tax for most of the history, the sad thing is that most people don't understand this principle. I don't have the energy to go into it, and yes I pay taxes but I know it's wrong read the founders and you will see why. But yes, we have to pay the taxes just don't act like it's right it's forced on us. The power to tax is the power to destroy (Jefferson).