- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Q. Would it be the normal threshold for filing taxes? Like if I got 500 or more bucks from one of these cash games would it be the regular threshold since it's not a job for me and don't need to file for self employment?
A. Yes, the "normal threshold" applies. If your total income, including gambling winnings, is less than $13,850 (2023), you do not need to file a tax return. There are two exceptions: 1. you have more than $400 of self employment income and 2. You can be claimed as a dependent, by somebody else, and you have more than $1250 of unearned income. Cash games winnings is "unearned" income.
May 22, 2024
3:04 PM