Fanduel & Draftkings Gambling Winnings

[bagman428]

As long as I do not go over a $600 net profit on Fanduel I would not get taxed or receive a 1099 form.  But what if I win $500 on Fanduel and $500 on Draftkings??  Technically I won a $1,000 profit but did not go over the $600 threshold on either site.  What would happen?  Would I get a 1099 form or not?   

[Anonymous_ · Accepted solution]

See https://www.irs.gov/taxtopics/tc419

You have to report your gambling winnings whether you receive a tax reporting statement or not.