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1099/w9 tax forms?

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05-03-2016 , 05:32 PM

thegreathulk

newbie

Join Date: Jan 2013 Posts: 43

Not sure where to post this, but I recently won 95k for first in a live tournament. I swapped 5% with two players of a total 10%.
I heard I had to get a 1099 or a w9.
Where can I find 1099/w9 forms to print out to give to them
how do I file them in and what do I do with my own winnings for taxes.
My first big tournament score and I am completely clueless on how this stuff works.

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05-03-2016 , 09:53 PM

MadTiger

old hand

Join Date: Dec 2005 Posts: 1,404

You need to take 1/8 to 1/2% of that nice score and hire a tax professional. What you want is not hard, but no one here wants to help you fill out these things free of charge.

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05-04-2016 , 01:15 AM

Deoxyribo

veteran

Join Date: Dec 2007 Posts: 2,028

they give you a W9 with their info, then at the beginning of next year you give them a 1099 with their net profit from you and a copy goes in ur tax return.

(NOT A LAWYER)

agree on hiring a cheap professional that will make ur mind at ease tho

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05-04-2016 , 05:50 PM

thegreathulk

newbie

Join Date: Jan 2013 Posts: 43

Where do I find a 1099 form to give them next year

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05-05-2016 , 06:49 AM

ngrund

adept

Join Date: Mar 2010 Posts: 1,058

Quote:

Originally Posted by thegreathulk

Where do I find a 1099 form to give them next year

check with a tax pro, which I am not, but I am pretty sure its not a 1099 you need to give the backers, it would be a w-2g:

https://www.irs.gov/pub/irs-pdf/fw2g_15.pdf

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05-05-2016 , 11:04 AM

Black Aces 518

Carpal \'Tunnel

Join Date: Oct 2004 Posts: 9,459

you can't issue a W2-G as a private person, you use a 1099-MISC.

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10-11-2018 , 11:13 AM

rSalois

stranger

Join Date: Oct 2018 Posts: 1

You can find these forms on the official IRS website - there you can download them as PDF and then print and file by hand. Another way, you can file form 1099 online https://1099-misc-form.pdffiller.com/ but that's paid

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10-14-2018 , 08:18 PM

wowsooooted

Pooh-Bah

Join Date: Jan 2013 Posts: 5,077

Paging Mr Horus

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10-22-2018 , 01:49 PM

aaronk56

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 17,733

You should have given the poker room a Form 5754 and then they would have issued W2-G's to the three of you.

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10-23-2018 , 06:40 PM

#10

braudablowup

old hand

Join Date: Oct 2009 Posts: 1,839

Quote:

Originally Posted by aaronk56

You should have given the poker room a Form 5754 and then they would have issued W2-G's to the three of you.

Which Casinos will do this.

I know for a fact, WSOP/CET will not

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10-29-2018 , 10:10 AM

#11

aaronk56

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 17,733

Quote:

Originally Posted by braudablowup

Which Casinos will do this.

I know for a fact, WSOP/CET will not

Don't know. Silly me for thinking a casino would obey the law.

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