W2-G - ADW combining 10 cent supers and reporting

[BreadandButter]

Did the laws regarding how the ADW’s report W2-Gs recently change? This past week I played a few ten cent supers and the ADW issued separate W2-Gs for each ticket when they all added up to over $600 (not even identical wagers – different wagers of different amounts – just in the same super pool).

I was very surprised to have W2-Gs issued to me for amounts in the $170-$270 range.

[OTM Al]

Its called "like wagers". This is the one big disadvantage of ADWs that you can't split up your bets on a single race pool to avoid the taxman. I found this one out the hard way as well.

[Exotic1]

I found that out with a NYC OTB phone account as well. One ticket was a super box and the other was a super prt wheel and they combined the two to get to the IRS threshold.

[Steve 'StatMan']

Was always the law, but since the ADW bettor is not anonymous, they have to follow the tax law and add them up. If one uses a betting card or a rewards card that identifies the bettor, one can get identified as well.

[Imriledup]

pretty soon they are going to force you to stand at the window signing 10 minutes worth of forms to cash a 2.20 show bet.

Gotta claim that 20 cent profit, you know?

[Speed Figure]

Have you never thought about using bodog or fivedimes?