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Old 02-04-2018, 11:01 AM   #1
LemonSoupKid
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out of state OTB withholding

Fairly straight forward question:

If you cash a ticket that happened require withholding (under the old rules) but it was out of state, and that state withheld a portion as per their law, can you get it back as a nonresident filer? What if that state does not "allow gambling losses as itemized deductions"? You just lose another large percentage of your bet because you bet in that state? Even if you can prove you were a net wash in that very state's OTBs?

Thanks to anyone who knows, in advance. I'm sure this has happened to someone on the board.
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Old 02-04-2018, 11:54 AM   #2
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Quote:
Originally Posted by LemonSoupKid View Post
Fairly straight forward question:

If you cash a ticket that happened require withholding (under the old rules) but it was out of state, and that state withheld a portion as per their law, can you get it back as a nonresident filer? What if that state does not "allow gambling losses as itemized deductions"? You just lose another large percentage of your bet because you bet in that state? Even if you can prove you were a net wash in that very state's OTBs?

Thanks to anyone who knows, in advance. I'm sure this has happened to someone on the board.
You figure out your nonresident tax and apply the withholding. If the withholding is more than the tax you will get a refund. To the extent you are charged a tax in another state you will probably get a credit in your home state for taxes paid. It varies per state.

Most nonresident returns are computed based on 100% of your income and 100% of allowable state deductions and then multiplied by the percentage of your nonresident income to your total income.

Example: Your total income (before itemized deductions) is $100,000 and your nonresident income (W-2G) is $20,000. Your nonresident tax is computed with itemized deductions to be $5,000 on your total income. Your actual nonresident tax will be 20,000/100,000 times 5,000 or $1000. A very simplistic example of how most, but certainly not all, nonresident state taxes are determined.
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Old 02-04-2018, 02:31 PM   #3
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I have 3 state tax returns to file this year and have done so in the past . Usually I owe the non-resident states and take that as a credit against my home state tax. Arkansas withholds state tax. Hit a pick 4 last month @Op that wasn't a signer supposedly($60 bet that paid $4k+), but I got a W2g nonetheless. Karl Marx would be proud

Last edited by Afleet; 02-04-2018 at 02:35 PM.
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Old 02-09-2018, 12:32 AM   #4
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Thanks for the replies, I didn't think of the hit being "state income" --- bad timing that it happened before the rule change, lol
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