#DK remitting wrong tax forms for gambling winnings - should be on W-2G, not 1099-Misc.

3 messages · Page 1 of 1 (latest)

near spade
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As DK is a gambling site, they should be remitting W-2G to customers, not 1099-Misc as W-2G is specifically for reporting of gambling winnings. W-2G also apply to non-cash winnings at FMV and should be used accordingly.

flint whale
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This a tax question, but without giving any tax advice, DK does not classify DFS/RM as gambling, they consider it a game of skill, which many states have recognized. Gambling is a game of chance, then it wouldn't be allowed in many states.

glad zephyr
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DK considers Reignmakers as no entry fee contests, thus allowing them to give MISC-1099 line 3 prizes. These are not "winnings"and cannot be written off against as other game of skills like poker, which are paid out with W2-G forms. I agree with ddauphine.