Connie asked,
"You won a substantial drawing at a casino (drop a ticket in a bucket
for a chance to win 50K), you were given a check and no federal or
state taxes were withheld....
G, 1042-S, or some other statement?
The casino has all the particulars, name, ss#, players card #,
current address...but to date nothing has been rec'd.
Win/loss statements have been collected for the year's worth of VP,
and the losses not are not close to the win this year.....but losses
over the last few years equal or exceed...."
If you're a US citizen you should receive a 1099-MISC. A drawing as you described is like a sweepstakes and falls under those tax rules rather than the gambling rules.
These forms (1099s, W-2s, etc.) are required to be mailed by January 31st, so you might not receive the form for another week. Even if you don't receive the form you're required to report all of your income on your tax return.
Hope this helps,
Russ Fox
http://www.taxablet
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