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Thread: Contest sites
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Old 03-05-2018, 06:09 AM   #62
depalma113
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Join Date: May 2009
Posts: 1,725
Quote:
Originally Posted by big frank View Post
if you make 5 withdrawls in a year of 400 bucks each time ,, do you pay taxes on the 2,000 dollars ? I guess you probaly have to.......if you don't withdraw at all do they report your winnings to irs at end of year like otb would ? ?? I love horsetourneys and havent requested a payout yet......... Is there any way around the tax issue if you take a few small payouts a year ??? Thanks
You pay taxes on what you earn, not what you withdraw.
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