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Paying tax on gambling winnings

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Paying tax on gambling winnings slot machine advertising Learn more about the gambling winnings tax and form w-2g from the tax experts at H&R Block. Jan 28, - Gambling winnings are fully taxable and you must report the income on your tax return. Gambling income includes but isn't limited to winnings from lotteries, raffles, horse races, and casinos. It includes cash winnings and the fair market value of prizes, such as cars and trips. Nov 12, - Gambling income is subject to the federal income tax and it consists of of actual winnings or payment slips provided to you by the gambling.

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