I’ve been playing these sweepstakes casinos for a while now and never got a tax form. But some people say they do report if you win big. Anyone know how this works? I’d rather not get surprised come filing season.
From what I’ve seen, most sweepstakes casinos don’t send you a tax form unless you hit a really big win, like over $5k or something. But legally, you’re supposed to report any winnings on your taxes regardless. I’ve never gotten a form from any of the ones I play, but I also haven’t won huge amounts. If you win big, I’d set some aside just in case. Wouldn’t hurt to ask a tax person if you’re worried.
honestly i’ve never gotten a tax form from any sweeps casino either. i think the rules are kinda fuzzy since it’s technically sweepstakes not gambling. but yeah if you hit something massive like over $5k they might send you a form. i just keep track of what i win and report it to be safe. crypto casinos are even more of a grey area tbh.
Yeah I’ve never gotten a form either from any sweeps site. I remember reading somewhere that they only send one if you redeem over $600 in a year or something? Not sure how accurate that is though. I just save screenshots of redemptions to be safe lol.
I’ve never gotten a tax form from any sweeps casino either. I think the $600 thing is for regular casinos but sweepstakes are different. I just report anything over $600 to be safe but honestly I’ve never had a site send me anything.