1. Welcome to VegasMessageBoard
    It appears you are visiting our community as a guest.
    In order to view full-size images, participate in discussions, vote in polls, etc, you will need to Log in or Register.

Extra taxes for gambling wins

Discussion in 'Non-Vegas Chat' started by HAWJOHN, Mar 23, 2013.

Thread Status:
Not open for further replies.
  1. HAWJOHN

    HAWJOHN Tourist

    Joined:
    Aug 15, 2010
    Messages:
    414
    Trips to Las Vegas:
    50
    Finally got around and did our 2012 tax returns. We could not itemize since we do not have enough deductions. Standard IRS deduction is $11,900 and an extra $2300 for senior citizens. After including our W2G wins totaling just over $3100 on line 21, it only resulted in additional taxes of just over 15 percent of the win. I thought it would be higher. Our state does not tax retirement income so after the standard deduction, we did not owe anything to the state.
     
    Last edited: Mar 23, 2013
  2. gotavegasjones

    gotavegasjones VIP Whale

    Joined:
    Jan 16, 2004
    Messages:
    3,104
    Location:
    South Texas
    Trips to Las Vegas:
    31
    Sounds like another win!
     
Tags:
Thread Status:
Not open for further replies.