If you win more than $1199 on carnival...

[osucruise]

do you have to pay US taxes? I know wishful thinking, but in the Bahamas the give you straight cash...is it true on carnival since it is registered to foreign country and on international seas. I am planning on winning as you can see--lol

[scchasgal]

do you have to pay US taxes? I know wishful thinking, but in the Bahamas the give you straight cash...is it true on carnival since it is registered to foreign country and on international seas. I am planning on winning as you can see--lol

 

$600.00 is the cutoff for issuing a 1099 and nothing to do with international waters and foreign flagged ships it is to do with being a US citizen or permanent resident and income.

[F22Smitty]

$600.00 is the cutoff for issuing a 1099 and nothing to do with international waters and foreign flagged ships it is to do with being a US citizen or permanent resident and income.

 

I have won way more then $600 at one time and have never, oh nevermind.

[Sargent_Schultz]

Cruise lines will file a W-2G when necessary and the IRS will be expecting their cut. When it is necessary depends on the game, the odds, and the amount won in a single play.

 

If you win over $10,000 in total in a day, they will use a Cash Transaction Report to notify the IRS (money laundering rules). The 10K may be less, these days.

[dbrucern]

do you have to pay US taxes? I know wishful thinking, but in the Bahamas the give you straight cash...is it true on carnival since it is registered to foreign country and on international seas. I am planning on winning as you can see--lol

 

You are correct - on slot machines(any jackpot of 1200 or more) you will be given that lovely little form prior to leaving the ship. Fortunately or Unfortunately depending on how you want to look at it, I have one from my Dream cruise at the end of June. The tables are another matter no forms.

[QLUVS2CRUZ]

Cruise lines will file a W-2G when necessary and the IRS will be expecting their cut. When it is necessary depends on the game, the odds, and the amount won in a single play.

 

If you win over $10,000 in total in a day, they will use a Cash Transaction Report to notify the IRS (money laundering rules). The 10K may be less, these days.

 

Actually it's a Currency Transaction Report and it's reported to the Financial Crimes Enforcement Network (FinCEN)...a separate form will be filed with the IRS and the threshold is lower than the CTR threshold. Also depends on how you win. If you win through slot machines the CTR is not filed on the 10,000.01 + threshold...you can find the current rules on www.fincen.gov

 

That's my two cents from a federal regulator :D

[klfrodo]

Last year my wife was playing $1 Wheel of Fortune.

She was playing max amount.

She hit "Triple Play" "3 Blue Bars" "Triple Play"

3 Blue Bars pays $300 on max bet X 9 for the 2 "triple Plays"

paid her $2700.

They paid it out in cash and provided her with a W2G on the last night of the cruise.

[Sargent_Schultz]

Actually it's a Currency Transaction Report and it's reported to the Financial Crimes Enforcement Network (FinCEN)...a separate form will be filed with the IRS and the threshold is lower than the CTR threshold. Also depends on how you win. If you win through slot machines the CTR is not filed on the 10,000.01 + threshold...you can find the current rules on www.fincen.gov

 

That's my two cents from a federal regulator :D

 

Well, I had the money laundering part right. Maybe someday I will be that lucky. :)

[2oldsisters]

I won $2160 on the slots and got a 1099 in my mailbox the same night. I believe the cutoff is $1200 no matter what you win on.

[BC Todd]

DW won $1,600 and paid out cash as soon as she was able to show her Canadian ID.

 

I never ran to our state room that fast before!:)

[TMWTim]

Loving this thread. More stories of winning big!

[jeancmo]

Loving this thread. More stories of winning big!

 

 

I won $1600 on the Liberty! Only had $10 in the machine and I didn't play slots the rest of the cruise. I also received a tax form :(..... Oh well I'm not complaining.

[afcj1]

That would probably be the ONLY time I wouldn't complain that loudly about paying the IRS:)

[5o'clocksomewhere]

They paid it out in cash and provided her with a W2G on the last night of the cruise.

 

This is exactly what they do......sign the form receive the cash......it will be reported as additional income at the end of the year.......

[5o'clocksomewhere]

$600.00 is the cutoff for issuing a 1099 and nothing to do with international waters and foreign flagged ships it is to do with being a US citizen or permanent resident and income.

 

Nope........$1200.00

[Sargent_Schultz]

All you have to do is make a case that you lost more than you won and then cross your fingers.

[grandmato4]

And don't forget that IF you do get lucky and win over $10,000 AND return to the US with over $10,000 there is a place on your customs form that you have to declare that. When you go through customs they will have you fill out and sign an additional form (don't remember the name or number of the form) as to the amount you are entering the US with. You don't pay anything to Customs for that, but you do have to fill out the form. Yes, I have first hand knowledge. :D

[Sargent_Schultz]

And don't forget that IF you do get lucky and win over $10,000 AND return to the US with over $10,000 there is a place on your customs form that you have to declare that. When you go through customs they will have you fill out and sign an additional form (don't remember the name or number of the form) as to the amount you are entering the US with. You don't pay anything to Customs for that, but you do have to fill out the form. Yes, I have first hand knowledge. :D

 

I do too! A customs agent asked me one time if I was carrying over $10K. Once I stopped laughing and responded, "I wish", he still waited for me to answer Yes or No. My answer was unfortunately no. :( :D

[PollyNJ]

If you contact the Players Club they will send u a profit and loss statement for the year. Submitt this letter along with the tax form they give you to off set the winnings. I won three jackpots on the Legend , all paid in cash, all with a tax form..but with the profit and loss statements from Carnival I was able to offset it on my taxes.

[Sargent_Schultz]

Heck, if you win enough, consider changing your profession to gambler and deduct as much as possible associated with what you spent to win that ransom - including the price of the cruises.

 

Of course, in theory, I suppose any comps received - either on a cruise ship or land casino, would also be some sort of income.

 

I wonder what those poker players do?

[USNUZULOOSE]

My DH and I were on glory in dec 09, someone won 97000.00 thousand dollars. I can only imagine what the taxes were and how he got paid. If I remember right someone from St Thomas had to verify the machine before they got paid. They had a WOW vacation.

[grandmato4]

I do too! A customs agent asked me one time if I was carrying over $10K. Once I stopped laughing and responded, "I wish", he still waited for me to answer Yes or No. My answer was unfortunately no. :( :D

 

Love those customs agents sense of humor sometimes, don't you? Maybe you'll get to answer YES someday! :) Just hope when you do they can find a copy of the form faster than my agent could. Great customs guy and knew what they were looking for but took forever to find a copy. A couple of them joked they'd heard of it but never had anyone fill one out so they all wanted to watch:D I joked back that if they didnt hurry up and find the form they were going to have to give me a personal escort away from the port to avoid the the other passengers that were going to be VERY unhappy with me holding up customs while they all searched for the form. :)

[lcmc]

Last time I cruised was 3 years ago and not once did I get a W2G. This must be something new they are doing.

[rbiggie1]

Butch said it is $1200 last week.

[flormija]

do you have to pay US taxes? I know wishful thinking, but in the Bahamas the give you straight cash...is it true on carnival since it is registered to foreign country and on international seas. I am planning on winning as you can see--lol

 

 

If you win $1,200 or more in any one sitting, you will have to fill out the paperwork and Carnival will issue a 1099-G. This happened to me on my Christmas 2009 cruise (won $3,400 in one sitting) and I had to do the paperwork and received the 1099-G.

 

If your winnings are less than $1,200, you will not have to fill out paperwork, and you will not receive a 1099-G.