According to the tax code Rob is correct. It is when you have the
availability to get the funds they are taxable. One can't just leave the
money in their account and defer to the next year.
_____
From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com] On Behalf Of
bmather4440
Sent: Monday, October 24, 2011 8:16 PM
To: vpFREE@yahoogroups.com
Subject: [vpFREE] Re: Trespass at Casino Montelago
Is this 100% true? I think it's a grey area as to what year you should count
it as income (I remember reading once that as soon as you have "funds" that
are eligible to be cashed out at any time, you have immediate income for
that year ... i.e. it doesn't matter when you cash it out, you technically
have income when the cashback accrues).
Regardless, I'm definitely not a tax pro...
> FYI There are tax advantages in deciding what year to take cashback.
>
> And sometimes I wonder why casinos put in high limit games if they don't
really want people to play them.
>
[Non-text portions of this message have been removed]
