Regulation 6A

I recently took a trip to Las Vegas and made a nice sum of money. I kept that money in my account at the casino and took it all when I left to fly back home. Now my concern is that according to Regulation 6A, transactions of over $10,000 have to be reported. In the end, the withdrawal was well over that sum. The amount I withdrew broke down to my initial bankroll, some of my friends' money, and my winnings. So, the money does not completely represent my winnings. Is this withdrawal going to reported as winnings? When I withdrew my money, they asked for my Social Security number. I asked if I needed to give it to them and they said no, so I didn't give it to them.

Can someone please inform me about what they will do and perhaps advise me as to what I should do.

a cash transaction. If you went to your bank and deposited or withdrew 11K the same transaction would have been reported. Likewise, if you have gone to your neighborhood Chevy dealership and paid for a new Impala with 20K in cash...that would be reported.

Over the course of a year you will win and lose in your casino play...most people lose money and don't keep good records. (and consequently never report anything one way or the other on their tax forms) You generally only need to worry about it if you know you've won a bundle or you've recieved W2-G forms as a result of jackpots.

Thanks for the information. So, if I understand this correctly, in the end it is my responsibility to report my winnings. There is no way for the casino to accurately keep track of my winnings since I could have possibly gotten up and lost a fair amount on another table or casino. I could even lose the money in future play. I know that a W2-G will not be sent to me.

wins and losses when you play as a rated player...however their totals are quite more than occasionally quite inaccurate due to a number of factors. Casinos do not report wins and losses of table games to anyone except their marketing department.

If you do have a big in-flux of cash due to substantial table games wins and you deposited that money you'd best report it. Of course many players use their winnings to buy things and never deposit it (or don't win) and therefore never realize, when tax time arrives, how much they've actually won (or simply assume they're net losers for the year)...and with no paper trail...you won't get much argument from the IRS.

In the end, it's up to you to report what you've won...but if you're a casual player you wouldn't be the first to have either poor records or a memory like Hillary Clinton.