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Suncoast drawing, $600 & 1099

Discussion in 'Off-Strip Hotels & Casinos' started by Joe, Mar 28, 2014.

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  1. Joe

    Joe VIP Whale

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    Starting April 1, Suncoast has a daily drawing for cash based on table play. You can only win once a day, but if your total winnings for the month in the drawings goes over $600, according to rules, a 1099 will be issued.

    Anybody know where that $600 number came from? Different rules for a contest winner, than a gambling win?

    4 names picked each day in April. $500, $250, $200 & $100.
     
    Christmas
  2. ncfatcat

    ncfatcat Low-Roller

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    Drawings I believe are different than gambling winnings. Drawings are miscellaneous income and the rule is $600 cash payment needs a 1099 Misc. I won $3,000 in a drawing at Harrahs Cherokee last year and got a 1099 Misc rather than a W2-G
     
  3. Joe

    Joe VIP Whale

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    Thanks:thumbsup:
     
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  4. gpenguins67

    gpenguins67 High-Roller

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    I believe drawings are like state lottery and horse betting. Anything under $599.99 does not require the 1099.... I believe every state enforces this but I am not an accountant so don't quote me on this.
    Same thing if you won a promotion on a radio station it can be taxable if it is over a certain amount.
     
  5. HAWJOHN

    HAWJOHN Tourist

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    I did not realize that the winnings were cumulative. I thought it was just a one time prize of 600 or more that would generate a 1099.
     
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