Chopping and Taxes

O.K., I spoke with some poker friends of mine who have been on the AC scene for decades.

According to them, you don't get a W2-G unless your winnings are over 10K, and there is supposed to be some sort of formula where the entry fee gets subtracted from the total prize money to determine this. Also according to them, is that the Taj doesn't understand this scenario too well and automatically issues a W2-G for 10K and above. They said that the Trop seems to have a much greater understanding of how this should be handled.

For payouts below 10K, they didn't know if you get a 1099 at the end of the year or not. Your best bet would be to ask. Only problem with that is that you'd be hard pressed to find someone who will have the answer to that. In my dealings with the Taj over the years, I usually knew more about how things were supposed to be than their employees.

Based on what they told me, and my previous personal experience with the differences between W2-Gs and 1099s I will at this time guess that you will not receive a 1099 for those winnings.