i won last year... what will my tax return look like?Prev TopicNext Topic

• lolbster

  

  jacksonville, florida
  United States
  Member #121,518
  January 11, 2012
  7 Posts
  Offline
  Apr 16, 2012, 7:56 pm

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  In response to Dorisdoright

  Quote: Originally posted by Dorisdoright on Apr 16, 2012

  If you have 97K in losers you will get it all back. There is no cap on the amount written off by loses. Under Federal tax this is considered uncommon or other income.

  97k in losers? you might have misread... i WON 97k... they with held almost 25k and i actually got 72k... i have 3.4k in losers
• James1

  

  Florida
  United States
  Member #104,431
  January 14, 2011
  2,267 Posts
  Offline
  Apr 16, 2012, 8:36 pm

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  If you come up with 97K in losses you will get a full 25k return. I know people at the race track do this. If this is the info you were looking for...

  2018 Biggest Win: $500 (multiple times but who cares about $500 right?)

  All time Biggest Win: $4K ($5 Green & Gold)