I recently won 7 thousand dollars at a Rhode Island casino. They took out no taxes.?

Question

I live in MA. Can I offset the taxes with losing MA scratch tickets?

Answer 1

Terry, silence is golden.

Answer 2

Did they give you a 1099 Form?  The casino does not take the taxes out.  It is up to you to report the win on your taxes.  You can offset the win with your losses if you have 7K in gambling losses.

I won 1K last year on a PA scratch ticket and I was able to offset the win with my casino losses.  But the 1K was documented by the state.

I would venture to say no you can't offset it with losing scratch tickets. Losing tickets are not documented.  Most often time you have to provide a win/loss statement to declare this on your income taxes.

Answer 3

did they give you a 1099?  If they don't report it, I would say don't incriminate yourself!

As for the scratch tickets, heeeheee - good thought!  ;)

Answer 4

if u filled out a form when u won it it goes to the irs and u will get taxed for it so set a small amount for it and u will be ok

Answer 5

Be sure to set aside enough to pay the taxes because the IRS will get you no matter where you live. They will get there share no matter what. Talk to a tax consultant before splurging or you will suffer for it in the end.