What happens when a person under 21 files taxes for gambling?
 

Im curious, as Im sure there are quite a few people who are under 21 that are making winnings off of poker.

Anyone know of experiences or simply what would happen?

Re: What happens when a person under 21 files taxes for gambling?
 

I would also like to know this. However, I think it's okay because the gambling age in Ontario is 19.

Re: What happens when a person under 21 files taxes for gambling?
 

I can't see how this would be a problem unless you'd have to specify exactly where you won the money. And if you did, I would think the best thing to do would be not claim those winnings. Other than that, I don't see why there would be anything wrong with this becuase for one thing, internet gambling is 18+ and the age at many casinos is 18+ (mainly those outside of the big areas like Vegas, AC, etc.).

To make it clearer, the actual "gambling age" in the US is 18. You can buy lottery tickets, go to racetracks, etc. at 18. The reason it's 21 it SOME casinos is because they serve free alcohol, therefore not allowing them to make the gambling age 18. Some casinos don't serve free alcohol, mainly those belonging to Indian reservations, and that gambling age is 18 in those casinos.

Hope this helps...

Post deleted by Mat Sklansky
 

Re: What happens when a person under 21 files taxes for gambling?
 

They don't care, they just want their money. In fact, if you deal illegal drugs you need to report the income you make doing it, and if you steal someone's property you must report its fair market value in your income the same year you steal it. Basically, they don't care how you make your money, just as long as you pay your taxes.

Re: What happens when a person under 21 files taxes for gambling?
 

</font><blockquote><font class="small">En réponse à:</font><hr />
They don't care, they just want their money. In fact, if you deal illegal drugs you need to report the income you make doing it, and if you steal someone's property you must report its fair market value in your income the same year you steal it. Basically, they don't care how you make your money, just as long as you pay your taxes.

[/ QUOTE ]

Exactly. Anyone know what Al Capone went down for? Tax evasion.

Re: What happens when a person under 21 files taxes for gambling?
 

Castration of the Penis.

Blackjack

Re: What happens when a person under 21 files taxes for gambling?
 

What happens is you pay the taxes on it and assuming you do it all correctly that's the end of the story.

If you are wondering if the tax reporting of your winnings could get you prosecuted for illegal activity if it's illegal to gamble under 21 where you are, the answer is not in the United States.

--Zetack

Re: What happens when a person under 21 files taxes for gambling?
 

I appreciate all the responses. This has been on my mind for quite some time [img]/images/graemlins/smile.gif[/img]

Post deleted by Mat Sklansky