Video 25 - Taxes on Gambling Income
We live in Source George, British Columbia, and had a glorious second honeymoon in Las Vegas the last ten days of December.
On Christmas gambling winnings tax us, my husband hit a jackpot.
We were gambling winnings tax us that 30% of the amount was withheld for U.
How do we get that money back?
The slot people either didn't know or didn't want to give us advice we couldn't gambling with dice which.
As in yesterday's answer, we turned towhich has a comprehensive section called "Gambling Issues for Non-U.
Citizens" and is available for pre-purchase at the link; it will be back gambling winnings tax us the printer and e-book producer in a few weeks.
The book quotes an excerpt from the IRS website that uses Canada as an illustration of how some non-residents can get a refund of withholding tax.
Gambling winnings by nonresidents of the U.
However, under the U.
You should report both your total gambling winnings gambling winnings tax us your total gambling losses on page 4 of Form 1040NR, U.
Nonresident Alien Income Tax Return, on the dotted portion of line 79.
If you have net gambling winnings after offsetting your total losses against your total winningsyou should include this net amount on line 79, column d of the Form 1040NR.
Source Income Subject to Withholding, showing the taxes withheld, to your Form 1040NR.
If not, in plain English, you can recover some gambling winnings tax us all of the 30% withheld for taxes, if you kept a copy of the 1042-S issued by the casino, if file a 1040NR, and if you can claim gambling losses up to the amount of the jackpot.
Tax Help for Gamblers covers all the ins and outs of proving that you also lost money gambling, which basically boil down to gambling winnings tax us a detailed diary of the results of your gambling sessions throughout your Vegas trip.
Another possibility is to employ a "jackpot-recovery" company, such as U.
Tax Recovery -- Managing Your Casino Tax Refund "It's Like Winning All Over Again".
According to Tax Help for Gamblers, these companies can help you with filing forms and obtaining the proper ID numbers.
Gambling and Taxes
Can gambling wins affect my tax bill? How much percentage of my gambling winnings do you need to report under the new TCJA. Can I claim ...
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