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Tax Question About Bonuses

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  1. MattMaster MattMaster is offline

    Posts: 166
    Joined: Nov 06

    Mar 24th, 2008 (3/24/2008 2:01pm)

    Not sure what to do here...

    I'm doing my taxes and I was just wondering if anybody knew how to incorporate bonus payments- e.g. a full tilt deposit bonus. is this just included under regular gambling income with all of your other winnings- which i kindof assumed- or is there something else i need to do?

    also, I received a $500 bonus payment from AP back during the scandal since I was observing one of the tables where HH and account names were made public- would the same guidelines apply to this?

    This obv wasn't under Tax Q&A so I'm just hoping somebody can give me a quick answer. thanks
  2. xTEDFORRESTx xTEDFORRESTx is offline

    Bucharest
    Romania

    Posts: 2,213
    Joined: May 07

    Mar 24th, 2008 (3/24/2008 2:26pm) in reply to MattMaster

    See Libutti v. Comr., T.C. Memo 1996-108 (Comps received from casino to entice taxpayer to gamble are "gains from wagering transactions" that may be offset by wagering losses as the comps are sufficiently related to the gambling losses).
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