Did the tax threshold just increase?

Reply #5

Stack47 — Mon, 19 Jan 2026 05:24:32 GMT

Saw where the slots and sports betting, rises to a unified $2,000, but lottery winnings remain at $600.

Reply #4

Think — Sun, 18 Jan 2026 06:14:29 GMT

Okay because when I initially saw the story months ago it said that casino's would be first and the lottery would follow in a different year

When I just checked it I couldn't get a straight answer out of the AI but the casino part did happen 1 January

Reply #3

Stack47 — Sun, 18 Jan 2026 05:56:06 GMT

I also read where the minimum amount for reporting winnings on a Form W-2G (and some 1099-MISC) is now $2,000 for the 2026 tax year. But apparently either the KY Lottery didn't get the memo or it's not true because they sent me a W-2G on 2026 winnings of $1100.

Reply #2

Think — Fri, 16 Jan 2026 18:35:18 GMT

Oops that should have read from $600 to $2000

Reply #1

Tucker Black — Fri, 16 Jan 2026 15:58:49 GMT

From what I'm reading, it's $5,001 and up. Some states may have a lower threshold so they still get the state income tax.

Did the tax threshold just increase?

Think — Fri, 16 Jan 2026 05:59:27 GMT

I know that the limit for hand pays on casino slots went from 1200$ to 2000$ on January 1st but did the limit on lottery go from 500 to 2000 this year also? I keep getting AI gibberish when I search so I'm not sure.