A friend won a car in Laughlin .."Riverside Casino."7. ..she received . much less fhan the car was worth. ( she had taken cash instead of car). Quite a hassle with fhe IRS..... so beware with choosing cash over "won item"
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From:"aonsf@reallymymail.com [vpFREE]" <vpFREE@yahoogroups.com>
Date:Sun, Apr 12, 2015 at 17:11
Subject:[vpFREE] Re: Tax question
Thanks, this helps a bit. As for cars, I would think you'd get a 1099 or some such from the casino with it, though I can imagine many years ago casinos might not have given you tax papers for it . I think the book even mentions a specific instance and a discrepancy between the value the casino said the car was worth and what it was actually worth.
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Posted by: Keno Caryl <mail4caryl@yahoo.com>
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