So I started playing an online casino called stake.us about 2 years ago (I wish I never did). Last year I won’t about 5k and want to make sure I do my taxes right, but everywhere I look is telling me something different. I live in North Carolina and it looks like you can’t deduct losses so would I just tell my tax person the exact amount I withdrew or is there more to it?
Need help understanding Online casino winning taxes
byu/AyeItzCastro intax
Posted by AyeItzCastro
1 Comment
You report all winnings and can itemize your losses to the extend of your winnings. Your accountant will likely take your word on what you tell him, but if you are audited you need to have proof of your losses, like bank tranfers, sessions played, ect/.