Ask A CPA - Gambling Winnings & Losses
Are My Gambling Winnings From The Slot Machines Subject To Backup Withholding ?
If you do not provide your taxpayer identification number to the payer, the payer will not withhold tax. Winnings from slot machines, bingo or keno are not subject to the 28% income tax withholding rules. If you do not provide your taxpayer identification number to the payer, the payer will withhold tax at the 31% backup withholding rate.
If you need professional help with "Gambling Winnings & Losses" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.
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