Are Bonuses Taxable Income In The U.S.? |
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Posted Wed Oct 27, 2004 2:12 pm GMT by krakajak
I know that gambling winnings are taxable as income, and even non-cash prizes you win are taxable. At the same time, things like frequent flyer miles and cash rebates you get from buying a product are not taxable, since their cost is factored in to the price of the product. So, where does this leave poker room bonuses? It seems to me that they sould not be taxable, but if anyone knows anything about this, please share.
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Posted Wed Oct 27, 2004 2:53 pm GMT by ORGrinder
in the united states... everything is taxable.
lol.
Posted Wed Oct 27, 2004 5:01 pm GMT by wEbMaStEr
tax is what you use to pin your carpet to the floor.
Posted Wed Oct 27, 2004 8:33 pm GMT by Cyberhwk
The one thing I know of is any single monatary transaction over $10,000 is immediatly reportable to the IRS (loads of paperwork before you even leave the casino).
I'm not sure about declaring gambling winnings on your tax return though.
Posted Wed Oct 27, 2004 10:32 pm GMT by Jauron
I would think if you pull out more than you put in, it's taxable regardless of how you got it.
But I can't be 100% sure on that.
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