Quote:
Originally Posted by Perrone66
I was shocked when I got home yesterday, and checked the mail, and I had gotten a 1099 form from winning '$2700' worth of 'promotions' while playing at Boston Billiards/Gate City last year.
I don't know how they got my social, and I don't understand why I was taxed on winnings that were never more than 500 dollars. Did anyone else get a 1099 from them? What about anyone who played in any other poker rooms in the area Chasers, Encore etc?
Table talk at Encore the other night was the polar opposite of this policy: that even with a rollover high hand ($1000, $1500, etc.), they treat it as multiple individual wins of $500 so they aren't required to issue a tax form. I've never won a rollover promo, so can't confirm by experience.
With that said, the absence of a tax form does not remove the reporting requirement, as others mentioned in the other thread.