CAS Winnings...

[hpecorari]

My bestfriend won $3500 on the video poker machine and followed it up with another $1800 win on the same machine a few minutes later :)

 

Was this on the Breakaway?

 

Harriet

[hpecorari]

It used to be 1099-G but it's now W-2G. I have a few every year and the 1099's stopped coming a few years ago, only W2-G's last few years.

 

Robin

 

Not to change the subject.....

but to this day I still can't understand why we have to pay taxes on our winnings when......

 

1. The ship isn't from the US

2. We're in international waters.

3. You can win 2 grand at black jack and you're not taxed.

 

Harriet

[bumorgan]

On my last cruise on Royal I won $1000 on the first night and 2 hand payouts of $600 & $700 during the rest of the week. Now that was a very exciting cruise indeed.:)

 

Dan

[gooch47]

As I understand it, you have to pay because the parent company is registered in the US.

 

The difference in taxation on slot winnings and table winnings is the same on land-based casinos. I never researched what or why.

[Paulras]

As I understand it, you have to pay because the parent company is registered in the US.

 

The difference in taxation on slot winnings and table winnings is the same on land-based casinos. I never researched what or why.

 

Actually it's because US citizens pay taxes on all income regardless of where the income is made. That's why you need to pay taxes on interest in foreign banks just like you do if you had your money in the USA. Even "swiss bank accounts" don't really work to hide money anymore. All cruiselines agree to give the IRS information on US citizens winnings just like any US land-based casino would to comply. Even casinos in other countries do it - for instance you can get a W-2G from a Bahamas casino if you're a US citizen.

 

As for the slot machine versus table winnings, it has something to do with the multiple of the winnings. I don't remember the factor but it's something like, if you win more than 300 times your original bet, you have to get a W-2G (don't quote me on that multiple). I think they use $1200 as a proxy for that. Blackjack usually only pays double your original bet. But if you play at a blackjack table that has one of those extra bonus games where you can win $2000 for an extra $1 bet, I believe you would also get a W-2G if you win it.

 

Do remember that if you get a W-2G, you can deduct your losses if you itemize your deductions on your 1040. I've only had the pleasure of getting a few W-2G's in my lifetime and had no trouble with claiming an exact offsetting amount of losses. All casinos keep track of your gains/losses if you have a players card. Just make sure you get copies of your losses from other casinos as support if you ever get audited. Or save old losing lottery tickets from that year.

[Clem Kadiddlehopper]

As I understand it, you have to pay because the parent company is registered in the US.

 

The difference in taxation on slot winnings and table winnings is the same on land-based casinos. I never researched what or why.

 

 

There is no difference in taxation on any gambling winnings. It is all taxable income at the federal level.

[skeeter195]

on the Sun in 2005. The first night I started with $500 at Blackjack, I won every night of the cruise except the last when I lost 26K. I got greedy, but I still walked off with 42K of their money. No W-2's either as it was all table games. They tried to give me a check one day when I cashed out 16K but I refused. They said that they did not want to go to the safe or something like that. I said give me what you have and I will come back tomorrow. They then "found" more cash in the drawer. Everyone was very nice in the casino except when it came time to cash out, funny.

[Clem Kadiddlehopper]

Actually it's because US citizens pay taxes on all income regardless of where the income is made. That's why you need to pay taxes on interest in foreign banks just like you do if you had your money in the USA. Even "swiss bank accounts" don't really work to hide money anymore. All cruiselines agree to give the IRS information on US citizens winnings just like any US land-based casino would to comply. Even casinos in other countries do it - for instance you can get a W-2G from a Bahamas casino if you're a US citizen.

 

As for the slot machine versus table winnings, it has something to do with the multiple of the winnings. I don't remember the factor but it's something like, if you win more than 300 times your original bet, you have to get a W-2G (don't quote me on that multiple). I think they use $1200 as a proxy for that. Blackjack usually only pays double your original bet. But if you play at a blackjack table that has one of those extra bonus games where you can win $2000 for an extra $1 bet, I believe you would also get a W-2G if you win it.

 

Do remember that if you get a W-2G, you can deduct your losses if you itemize your deductions on your 1040. I've only had the pleasure of getting a few W-2G's in my lifetime and had no trouble with claiming an exact offsetting amount of losses. All casinos keep track of your gains/losses if you have a players card. Just make sure you get copies of your losses from other casinos as support if you ever get audited. Or save old losing lottery tickets from that year.

 

First off it is all taxable earned income whether or not you get a W2G/1099-G or not.

 

Secondly, ou can always deduct the amount of gambling losses up to the amount of winnings.

 

Lastly the W2-G/1099-G stuff is only relevant to the casino's responsibility to report your winnings, nit your responsibility to include it on your tax return.

[dalmoradie]

Was this on the Breakaway?

 

Harriet

 

this was on the Epic last year

[Clem Kadiddlehopper]

on the Sun in 2005. The first night I started with $500 at Blackjack, I won every night of the cruise except the last when I lost 26K. I got greedy, but I still walked off with 42K of their money. No W-2's either as it was all table games. They tried to give me a check one day when I cashed out 16K but I refused. They said that they did not want to go to the safe or something like that. I said give me what you have and I will come back tomorrow. They then "found" more cash in the drawer. Everyone was very nice in the casino except when it came time to cash out, funny.

 

 

The fact it was table games is irrelevant. The reporting by the casino has nothing to do with the game you are playing (directly). Further, all of your winnings are taxable whether or not you get issued any given form by the casino.

[Clem Kadiddlehopper]

Not to change the subject.....

but to this day I still can't understand why we have to pay taxes on our winnings when......

 

1. The ship isn't from the US

2. We're in international waters.

3. You can win 2 grand at black jack and you're not taxed.

 

Harriet

 

 

If you win $2k at blackjack the casino may not withhold taxes but you are still legally required to report it on your tax returns.

[luvcruzing]

If you win $2k at blackjack the casino may not withhold taxes but you are still legally required to report it on your tax returns.

 

Clem - It's no longer fun reading your posts.

[CasinoCruzGirl]

Actually it's because US citizens pay taxes on all income regardless of where the income is made. That's why you need to pay taxes on interest in foreign banks just like you do if you had your money in the USA. Even "swiss bank accounts" don't really work to hide money anymore. All cruiselines agree to give the IRS information on US citizens winnings just like any US land-based casino would to comply. Even casinos in other countries do it - for instance you can get a W-2G from a Bahamas casino if you're a US citizen.

 

 

 

As for the slot machine versus table winnings, it has something to do with the multiple of the winnings. I don't remember the factor but it's something like, if you win more than 300 times your original bet, you have to get a W-2G (don't quote me on that multiple). I think they use $1200 as a proxy for that. Blackjack usually only pays double your original bet. But if you play at a blackjack table that has one of those extra bonus games where you can win $2000 for an extra $1 bet, I believe you would also get a W-2G if you win it.

 

 

 

Do remember that if you get a W-2G, you can deduct your losses if you itemize your deductions on your 1040. I've only had the pleasure of getting a few W-2G's in my lifetime and had no trouble with claiming an exact offsetting amount of losses. All casinos keep track of your gains/losses if you have a players card. Just make sure you get copies of your losses from other casinos as support if you ever get audited. Or save old losing lottery tickets from that year.

 

 

Won $5,000 JP on Bahamas. No tax form given

 

 

 

 

Sent from my iPhone using Forums mobile app

[TVLady3]

One poster reported winning $15,000 on Quick Hit.

That was me!!!!!! On the Star, the 2 night cruise to nowhere!

[SissasMomE]

OK so what's the biggest win you have ever had at the casino at sea? For me it was when I hit the number 14 on the roulette wheel when I had $20 bet. At 35 to 1 it paid me $700. Not great big but yeah I was happy with it... :)

 

 

Also, has anyone ever seen that lotto drawing thing hti while on a cruise? I have not but I have only been on two crusies so far.

 

I hit for $3,000 on the wheel of fortune slot machine on RCCL Rhapsody of the Seas.

[SissasMomE]

I don't understand the term "win in the casino". Do people actually do that ??????????

 

Well, I put a $20 into a $1 machine on RCCL, pulled 3 times, and walked away with $3,000 ... so yeah, it happens LOL

[antsnanny]

A long time ago, I won 6,000 on a dollar slot machine on Carnival Triumph, at that time I did not get a W2G form. A little while after I won I was playing another dollar slot and my son pointed out that a women was waiting for the machine I was playing on. I was in such a good mood after winning the 6 K, I got up so she could play. I had not even turned to walk away and she won 4 thousand dollars. On the Dawn a few years ago, I won 1,200 on a nickel machine so DH and I decided to play 200.00 and take a thousand dollars home as it was our last night of the cruise. We cashed out the ticket, put the thousand dollars away and DH said " Lets go win another thousand" and we did! This time on the Wheel of Fortune. Fun!

That all said, there are many times I donate!

[Clem Kadiddlehopper]

A long time ago, I won 6,000 on a dollar slot machine on Carnival Triumph, at that time I did not get a W2G form. A little while after I won I was playing another dollar slot and my son pointed out that a women was waiting for the machine I was playing on. I was in such a good mood after winning the 6 K, I got up so she could play. I had not even turned to walk away and she won 4 thousand dollars. On the Dawn a few years ago, I won 1,200 on a nickel machine so DH and I decided to play 200.00 and take a thousand dollars home as it was our last night of the cruise. We cashed out the ticket, put the thousand dollars away and DH said " Lets go win another thousand" and we did! This time on the Wheel of Fortune. Fun!

That all said, there are many times I donate!

 

I have NEVER won anytingon the Wheel Of The Unfortunate machine! :D

[antsnanny]

Honestly, I never see them hit for a thousand, I really don't like them one bit but DH had a feeling about a machine and it hit that night.

 

 

 

Sent from my iPhone using Forums

[Clem Kadiddlehopper]

I mostly play poker and do very well. I also play roulette and let it ride when I need time to play without having to think! :)

[TVLady3]

Just off the Breakaway and hit $3,328 on the Quick Hits penny machine on a Bonus round noless!:D

[boopsahoy]

Just off the Breakaway and hit $3,328 on the Quick Hits penny machine on a Bonus round noless!:D

 

Congrats! I LOVE quick hits!

[8675309Jenny]

Just off the Breakaway and hit $3,328 on the Quick Hits penny machine on a Bonus round noless!:D

 

 

wow that is good. that is really good. next cruise paid for! our next cruise on the getaway we have a to do list.

 

watch the fireworks

go to the magic show

play for free in the casino, win big

ride the water slides