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Gambling winnings in Massachusetts?

I won $13,549 on FanDuel in 2023. I did not work the entire year, nor did I have any other income. No unemployment or disability or anything of the sort. I took the year off and lived off my savings. As a Massachusetts resident I know I'm obligated to pay state taxes on my winnings because it's over the $8,000 threshold. The federal limit, however, is $13,850. So I'm just barely under that. I have spreadsheets, activity statements, and logs to prove all my wins/losses. Does this mean that I owe nothing to the government and only should pay the state taxes I know I owe? I did not receive a W-2G from FanDuel as they said my wins did not meet the minimum requirement to be issued one. I just want to make sure I'm doing everything correctly and by the book. Thanks for any help offered.

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2 Replies
Vanessa A
Expert Alumni

Gambling winnings in Massachusetts?

If you lived off of your savings, did you receive any interest on your savings?  Even if you didn't get a check for the savings, if it was added to your bank account, it would be considered income and taxable.  

 

You are correct.  If you have NO other income, then you are just barely under the filing requirements and do not need to file a federal return.  However, if you have any interest on your savings that bring you over the filing requirements, even if you didn't get a 1099-INT, you would need to file a return.    

 

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Gambling winnings in Massachusetts?

Thanks for mentioning that. I did not receive a 1099-INT from my bank, but the interest I did receive did not affect the return at all. I reported the interest anyways. Thanks for your assistance. Much appreciated.

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