Quote:
Originally Posted by ToTheRiver
Man you are crazy! Just give them the SS#. What you don't understand is 1099 is a promotional prize form not taxes. That's it. What you are talking about with slots is a W2G. They take taxes out for W2G not 1099.
I would have taken the money all day. Next time learn the tax rules of the game before you play. No taxes in poker except for tournaments with payouts over 5,000. Funny, how does it feel to leave $100 on the table. Knowing you it probably wasn't the only money you left on the table.
You know me? Well, I receive 1099's for some self employed income so when the suit tells me I will receive a 1099, I figure I am going to have to pay taxes on that money. Here's why:
Form 1099 is a form promulgated by the Internal Revenue Service (IRS) and is used in the United States income tax system to prepare and file an information return to report various types of income other than wages, salaries, and tips (for which Social Security Administration Form W-2 is used instead). The term information return is used in contrast to the term tax return although the latter term is sometimes used colloquially to describe both kinds of returns. Each payer must complete a 1099 for each covered transaction. Three copies are made: one for the payer, one for the payee, and one for the IRS.
Leaving $100 on the table isnt going to change my life, maybe it would yours. The reason I posted in the first place was just to see if this was standard in other poker rooms, not to have some random internet tough guy tell me they know me.
Last edited by stringbet20; 05-28-2011 at 01:43 PM.