For many of us, gambling means buying the occasional lottery ticket on the way home from work, but the Internal Revenue Service says that casual gambling also includes raffles, casino games, poker, sports betting—and, yes, even fantasy football. When you win, your winnings are taxable income, subject to its own tax rules. Taxes on Gambling Winnings and Deducting Gambling Losses The easiest and most accurate way to find out how to report your gambling winnings and losses is to start a free tax return on eFile.com. Based on your answers to several questions, we will prepare the forms necessary to report your gambling winnings and losses on your tax return. Claiming Gambling Winnings and Losses On Federal Tax Returns | Kershaw ...
Nov 12, 2012 · For example, you grew up in the Philippines, you would later migrate to the States and become a naturalized American citizen, then placed a bet on the lottery when you went on a vacation in the Philippines and later on won, are the hundred-thousands or millions of pesos of winnings subject to income tax (or other type of tax) back in the United States, considering that lottery winnings in the
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