Taxes(rakeback and bonuses)
 

Alright sorry for another tax thread but i couldnt find any info on this. Where should rakeback and bonuses be reported on your taxes. should they just be added to your gambling wins. Im not sure if the IRS would consider them wins that you could deduct losses against. Anyone know.

Re: Taxes(rakeback and bonuses)
 

Only if you can spend the money on hamburgers or bubblegum.

edit: sorry, maybe they consider it a gift, which may have different tax considerations, but other than that, I think that you have to account for it somehow. I'm not an accountant, though. Basically, if you can spend it like regular income, there's got to be some way that they can pull it out of your pocket. [img]/images/graemlins/smile.gif[/img]

Re: Taxes(rakeback and bonuses)
 

The IRS would call this miscellaneous income. You would claim this income on the same line where you report your gross gambling winnings.