taxes on your bj winnings

If you are up for the year do you have to declare it? A pitboss told me no taxes on table games but I think you are supposed to pay, what's the truth? The goverment probably wouldn't find out if you didn't pay, there's no way they can prove it. I am in the opposite situation because I am down for the year but since I bought in for more than 10k once I had to give my ss#.

Was before i learned how to count and I was "gambling" but still it happened this year so I could be in trouble even though i don't owe anything. It was over 20k.

whether they are from tables or slots.

That's what I thought I was just checking but even if I am up in the future I don't see how they can find out.

$10,000 divided by $5 = 2000 chips. One _hell_ of a stack of red chips. :)

of course no dealer would give you such a thing...

a failure to communicate?

casinos don't withhold taxes on table games, but on any significant slot win they must withhold taxes and generate the appropriate IRS documentation including a valid SS# for you. He was probably answering the question from that perspective.

As BP wrote, all winnings are taxable, although with proper record-keeping you can offset them with losses so that only the net win (if any) is actually taxable. But you do need accurate records.

the IRS will analyze everything about your lifestyle, bank deposits, etc. If you have a significant amount of extra income from gaming and don't report it they'll find it. If the extra income is only a few thousand dollars you're right, it will slip through the cracks.