1099-MISC from Casino Question

Deposit or match bonus — You only receive this after making a deposit as stated in the terms and conditions. Also referred to as the Loyalty Bonuses, comp points are a way of being rewarded for choosing to play at the site. Terms and Conditions usually spells out all you need to know about the bonus and therefore enabling you to plan accordingly towards settling the wagering requirements 2. Simple, every time you play a real money game, the casino awards you with points. The Reload Offer This is part of the ongoing casino promotions.

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They are broadly categorised into either the deposit or no deposit bonuses. This type of reward is a deposit bonus. This is part of the ongoing casino promotions. Just as the name suggests, the reload offer ensures that you are rewarded any time you make an additional deposit at the site.

Just like the welcome offer, the reload offer comes with a percentage of the amount of money that you deposit. Since the reload bonus is part of an on-going promotion, it tends to be lower than the welcome offer. Also referred to as the Loyalty Bonuses, comp points are a way of being rewarded for choosing to play at the site. How do you earn the points? Simple, every time you play a real money game, the casino awards you with points.

All these are some of the popular types of rewards that you will be offered across different casinos. One important thing to note is that VIP and regular players have different offers. It depends on the website where you are playing your games from.

Those sites which offer you the opportunity of redeeming the bonus money are mostly those that have a well-established player base and can afford to pay out the money in cash form. In the process, you can win real money which you can them withdraw. For those regular players who have never had the time to go through the bonus terms and conditions, these tips will also help you get the most out of the bonuses. Terms and Conditions usually spells out all you need to know about the bonus and therefore enabling you to plan accordingly towards settling the wagering requirements.

These are things that people most often ignore, only to regret later. Wagering requirements simply refer to the number of times you have to play through your bonus before redeeming it. It is the total amount of real money that you have to spend on the bonus before you can actually withdraw it or redeem it. Expiration dates refer to the dates when the bonus is set to expire. These two are important as they enable you to evaluate whether or not the bonus amount is viable.

Annoying pop-ups in demo. Slot of the month. Let us whet your appetite. Monday to Friday Min deposit: Free spins slots promotion. My issue comes up while completing the income section of the online version of Turbo Tax Premeir. I understand that I can deduct documented gambling losses up to the amount I won.

However, If I enter the 30k income in the section where MISC forms are entered, the program does not allow me to deduct gambling losses. I intend to enter the MISC data in the open "gambling income" field and attach a letter of explanation that this income is from gambling to justify the 10k gambling loss deduction I intend to enter on Schedule A. I wanted to gather opinions on doing this. If this seems too out of line or fishy I will ditch Turbo for a professional preparer.

Any opinions are welcome, both on the Turbo Tax product and on the gambling income issues. Thank you for your time.

Last edited by a moderator: Phil Marti, Feb 22,

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