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Gift card or free play

Discussion in 'Comps' started by humut, Jul 10, 2013.

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  1. humut

    humut Tourist

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    I have an offer I'll be using from CET for choice of $2500 free play or Macy's card. Will they issue me a w-2 if I choose the gift card? I have asked when I was booking the reservation, but the person could not give me an answer. My wife, who's not going, wants to have Macy's card. I have always chose free play before. Now I'm worrying if it triggers a w-2? Would someone also tell me if Macy's card just a regular Macy's gift card without some weird restriction? Thanks.
     
  2. casinoboy

    casinoboy Low-Roller

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    do you mean because of the amount? because we get gift cards from our local casinos all the time and never get a w2. but they are smaller amounts in the hundreds of dollars or less.
     
  3. nostresshere

    nostresshere Mr. Anti Debit Card

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    Interesting. Free play for sure will not get any report.

    Gift card....

    If you will be doing at least $2,500 in coin in while you are there, you should do the freeplay. Then give her $2,500 in cash or visa gift card she can use anywhere she wants and not be forced into Macy's. Or risk getting a 1099.


    Your out of pocket is exactly the same - again, assuming you will do at least $2,500 of coin in.
     
  4. MWJ51102

    MWJ51102 Low-Roller

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    I think it would be a 1099 which I believe means you can't deduct gambling losses from it. 1099s are issued if it is over $600. I would take the free play for sure.
     
  5. LAV

    LAV Tourist

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    No, a w-2 or 1099 will not be generated for the Macy's gift card. If you want to get the gift card, feel free to do so.
     
  6. Tellafriend

    Tellafriend High-Roller

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    Agreed. No tax forms have ever come to me; but I could definitely see why they should!:cry:
     
  7. humut

    humut Tourist

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    My wife agreed to let me go alone because I told her that I am picking up Macy's card for her. I will just asked again when I get there this weekend. If 1099 will be issued then I will ask for free play and go to Macy's to buy gift card. Thanks for everyone's help.
     
  8. LAV

    LAV Tourist

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    Let me re-assure you by reiterating and confirming that you will not be issued either a w-2 or form 1099 for your $2,500 in Macy's. This is first-hand experience and knowledge.

    I don't think it's necessary for you to ask about 1099/w-2 as they don't need any taxing ideas. :)
     
  9. humut

    humut Tourist

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    Thank you for your advise. I'll do as you said.
     
  10. nostresshere

    nostresshere Mr. Anti Debit Card

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    Agree.

    No sense asking. They will either try to get a 1099 issued, or will have no freakin idea what you are talking about.

    Personally, I would get her a VISA card so she can shop anywhere. Just me.

    Nor would I take time out of my personal trip to trek down to MACY's to get the card.
     
  11. LAV

    LAV Tourist

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    He will not have to trek down to any Macy's to get the card. At the promotions desk, it will be issued to him.

    Plus, if he already told his wife that he will get Macy's for her, I don't think he needs other suggestions.

    Also, with free play, there's no guarantee he can turn that $2,500 in real cash in the equivalent amount.
     
  12. mdm4sfest

    mdm4sfest Low-Roller

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    Id choose the gift card and then sell it on one of those sites that buys/sells gift cards. You can easily get 2300-2400. Theres a guaranteed payday for you instead of hoping on a slot.
     
  13. nostresshere

    nostresshere Mr. Anti Debit Card

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    First off, his wife is expecting $2,500!

    Next, and assuming this person plays slots, he is going to put $2,500 of coin in over the trip anyways. So, why sell for $2,300?
     
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