Maryland Live! (Arundel Mills Mall; Hanover, MD) -– FAQ in OP, added 2014.02.02 - Page 541 - Venues & Communities -- Two Plus Two Poker Forums

High hands aren't gambling winnings they are prize earnings which is still usually a 1099-misc. But unlike a gambling winning you can't deduct losses on it

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Then yes, as a prize, it should be on a 1099-MISC. I agree.

https://www.irs.gov/instructions/i1099mec

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01-30-2024 , 11:50 PM

#13502

maromb78

journeyman

Join Date: Jan 2007 Posts: 361

I received only a 1099 misc form for a table share of the BBJ I got last year. About $830. I received no other forms from live. I’ve hit a number of the high hands but none over $600.

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01-31-2024 , 04:39 PM

#13503

abstractls

old hand

Join Date: May 2007 Posts: 1,553

I checked and mine from Live is also a 1099-nec. Technically the 1099-nec is better because I can write expenses off. In the end it probably doesn't matter other than the fact it's not the correct form

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02-01-2024 , 01:53 PM

#13504

luckduck53

The Situation

Join Date: Jul 2012 Posts: 5,147

I received the 1099 when I was paid out the $1000 but also just received the nec form....

Whoever processed these must be new to accounting

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02-06-2024 , 03:17 PM

#13505

RyanS

stranger

Join Date: Jun 2013 Posts: 8

Quote:

Originally Posted by luckduck53

I received the 1099 when I was paid out the $1000 but also just received the nec form....

Whoever processed these must be new to accounting

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Yesterday, Live mailed out the corrected form (1099-MISC) with an attached letter explaining the mistake with the 1099-NEC. The files sent to the IRS were correct, it was just printed on the wrong form. Check your mail in a day or so and you everyone should be good to go.

Thanks,