Reply to thread

Message: [QUOTE="Husky25, post: 2719054, member: 2839"] When did that change? Granted, I haven't been to the track in some time, but the minimum bet was always $2.00, even at the SAM sites. I also thought that even though it is a single transaction for speed simplicity sake, a box bet is actually 6 distinct wagers. Finally, if someone is betting $0.10, they have problems that Gamblers' Anonymous can't handle and this whole thread should be moot to them. As I said, it was a straight copy and paste from Investopedia, However, according to instructions for IRS form W2-G (which is probably where I should have gone in the first place): [I] Reportable Gambling Winnings Report gambling winnings on Form W-2G if: 1. The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine, 2. The winnings (reduced by the wager) are $1,500 or more from a keno game, 3. The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament, [U]4. The winnings (except winnings from bingo, slot machines, keno, and poker tournaments) reduced, at the option of the payer, by the wager are: a. $600 or more, [B][COLOR=#ff0000]and [/COLOR][/B]b. At least 300 times the amount of the wager, [/U]or 5. The winnings are subject to federal income tax withholding (either regular gambling withholding or backup withholding).[/I] [/QUOTE]