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

ChoicestHops · #1 01-21-2005, 02:36 AM

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?

phixxx · #2 01-21-2005, 02:46 AM

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

Go Blue · #3 01-21-2005, 02:52 AM

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...

CORed · #4 01-21-2005, 02:06 PM

[ QUOTE ]
And if you did, I would think the best thing to do would be not claim those winnings

[/ QUOTE ]

Very, very bad advice. The IRS is not going to report you to local authorities for underage gambline. Even if they did, the penalties for tax evasion are much more severe.

Sophia · #5 01-21-2005, 02:52 AM

Ed Miller · #6 01-21-2005, 07:56 AM

Death penalty I believe.

In Texas only.

driller · #7 01-21-2005, 12:45 PM

Actually, we losened up a little since W moved to Washington.

cpk · #8 01-21-2005, 10:08 PM

Actually, it was Ann Richards who dusted off the gurney.

pzhon · #9 01-22-2005, 03:59 PM

[ QUOTE ]
Death penalty I believe.

In Texas only.

[/ QUOTE ]
Illegal gambling on poker is one of the few crimes punished by a long prison sentence. They hold 'em.

theredwave · #10 01-21-2005, 03:03 AM

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.