Super Bowl predictions

[Copper]

I had $5 left in my Fanduel account from the neighborhood fantasy league.

So I put it on SF, I'm giving 2.5 points. I could win $9.70, $4.70 after deducting the initial $5 bet.

That is my first on-line sports bet.

You can bet on just about anything.

Go 49ers!

https://sportsbook.fanduel.com/

[George K]

@mark bait...

Gonna report your winnings on your 2024 IRS return, right?

[Copper]

@George-K said in Super Bowl predictions:

@mark bait...

Gonna report your winnings on your 2024 IRS return, right?

Yes, I always provide the IRS with 100% accurate information.

Sometimes I even give them a little extra just to be helpful.

[LuFins Dad]

I predict that the gambling brokers will make more money than they pay out this weekend.

[Jolly]

Like a sure thing, eh?

[Renauda]

@George-K said in Super Bowl predictions:

@mark bait...

Gonna report your winnings on your 2024 IRS return, right?

Why? I assume he already paid tax on the $5 he placed on the bet. Any winnings on games of chance should be tax free.

[LuFins Dad]

@Renauda said in Super Bowl predictions:

@George-K said in Super Bowl predictions:

@mark bait...

Gonna report your winnings on your 2024 IRS return, right?

Why? I assume he already paid tax on the $5 he placed on the bet. Any winnings on games of chance should be tax free.

Nope. https://turbotax.intuit.com/tax-tips/jobs-and-career/how-to-pay-taxes-on-gambling-winnings-and-losses/L7JNH7mjn

[Mik]

Easier still, avoid gambling. Unless you’re at a poker game among friends you’re playing a game rigged against you.

[Renauda]

@LuFins-Dad

Interesting. Doesn’t work that way here. Winnings from any game of chance is considered an unexpected windfall and therefore non taxable. Likewise with inheritances and gifts of money. So principal cash winnings themselves are tax free however the capital gains on the investment of any winnings (or windfalls) are taxed accordingly. So I could win $100 million in the lottery which would be tax free. Any interest earned on that $100 million would be taxable as a capital gain.

[jon-nyc]

One team will sport well and score points, but the other team will sport better and score even more points.

[Doctor Phibes]

I predict that I will not watch it but will feign interest on Monday at work during the lunchtime walk while silently screaming inside.