Hal_Al
Level 15

Get your taxes done using TurboTax

Q. Would it count as gambling and winnings or self employment tax? Or something else? 

A. Gambling winnings. 

 

 While professional gamblers may file a Schedule C as self-employed individuals, what you described does not make you a professional gambler (“pursued full time, in good faith, and with regularity, to the production of income for a livelihood, and is not a mere hobby” ) Reference: https://silvertaxgroup.com/professional-gambler-tax/#:~:text=Gambling%20must%20be%20%E2%80%9Cpursued....