Tax on tournament winnings

Question by mightybaster Posted
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3 Comments

Hello!

I'll be in Vegas with a buddy in a couple of months to play poker. We want to play cash games and tournaments. We are from Canada and i heard that if you make a big score in a tournament you have to pay taxes on it since you're a non-resident. Is this true? And if it is, what is the amount that you start to pay taxes from?

Thanks in advance!

Comments

  1. I have played in Vegas for years not paid tax on winning once and I'm from the UK

  2. I believe that $5000 is the point at which the casinos have to report winnings from poker tournaments to the IRS. And I think that is net of the buy-in.

  3. I'm from Canada as well.. I've had to pay in NY, Jersey, but not Nevada.

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