Question by kingcq45: Gambling Taxes of Gambling Games?
Does anyone know a website that list the taxes of each gambling game known to man. So, I can know what my winnings would be after taxes. ( I mean every single gambling game) Ex: horse race, cash 3, keno, bingo, slot machine, etc.
Answer by LegFuJohnson
There isn’t a “gambling tax”. You pay income tax on money that you win. If the jackpot is high enough, the casino might take out some taxes before they pay you, but if the amount isn’t the correct amount based on your income level, you’ll pay more, or get a greater refund when you file.
The tax is based on your income… not based on the game.
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