#DK remitting wrong tax forms for gambling winnings - should be on W-2G, not 1099-Misc.
3 messages · Page 1 of 1 (latest)
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.
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.