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Business & farm
My misunderstanding then. Everything I had been reading referred to it as a flat tax rate (similar to capital gains). Statements like this "The tax paid on gains is not progressive: U.S. resident gambling income is taxed at a flat rate of 24%, regardless of the amount you win."
I hadn't had time yet to dig deeper - that's what I'm doing now.
‎December 10, 2024
7:56 AM