Gambling Tax Refund for wins in Reno, Las Vegas,

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Sent: Saturday, July 03, 2004 5:55 AM
Subject: Gaming Tax Refund
I recently had taxes withheld on slot machine wins in Reno, NV.  I =
understand, as a Canadian resident, that I can apply to have the taxes =
refunded.  Do I have to wait until the calendar year ends to apply?
david ingram replies:
You have to wait until 2005 for a 2004 refund but you have to have =
gambling losses to offset gains to get a refund.
The following is the answer to an older question.
As a non US citizen, you must file a 1040NR along with a form W7 to get =
an ITIN (Individual Taxpayer Identification Number).
The following is a previous answer given in January to someone who had =
received a W2G for a win of $1,200.
We can help you but leave it until May please.
old answer
For non-residents of the United States, the withholding is 30% of wins =
$1,200 or more.  You would file a 1040NR to report the winnings and =
your losses as itemized deductions.
Remember that reporting just your win of $2100 and claiming gambling =
does not make sense.  If you won $2,100 (or any other amount) and lost =
much, there were more winnings in between which should be reported even =
if a
slip was not issued.
Non-residents do not usually get a W2-G - they are issued a 1042-S
david ingram
IRS TAX TIP 2004-33
Hit a big one in 2003? With more and more gambling establishments, the =
reminds people that they must report all gambling winnings as income on
their tax return.
Gambling income includes, but is not limited to, winnings from =
raffles, horse and dog races and casinos, as well as the fair market =
of prizes such as cars, houses, trips or other noncash prizes.
Generally, if you receive $600 ($1,200 from bingo and slot machines and
$1,500 from keno) or more in gambling winnings, the payer is required to
issue you a Form W-2G. If you have won more than $5,000, the payer may =
required to withhold 27% of the proceeds for Federal income tax. =
if you did not provide your Social Security number to the payer, the
amount withheld will be 30%.
The full amount of your gambling winnings for the year must be reported =
line 21, Form 1040 or the equivalent line on form 1040NR. If you itemize =
deductions, you can deduct your
gambling losses for the year on line 27, Schedule A (Form 1040). You
cannot deduct gambling losses that are more than your winnings.
It is important to keep an accurate diary or similar record of your
gambling winnings and losses. To deduct your losses, you must be able to
provide receipts, tickets, statements or other records that show the
amount of both your winnings and losses.
For more information on record keeping, see IRS Publication 529,
"Miscellaneous Deductions," or Publication 525, "Taxable and Nontaxable
Income." You may also want to check out Form W-2G or Form 1042-S and its
instructions and
Tax Topic 419, "Gambling Income and expenses." All are available on the
IRS Web site at You may also order free publications and
forms by calling toll free 1-800-TAX-FORM (1-800-829-3676).
Answers to this and other similar  questions can be obtained free on Air =
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Cartier =
Partners and I will be hosting an INFOMERCIAL but LIVE talk show called =
Those outside of the Lower Mainland will be able to listen on the =
internet at
Local phone calls to (604) 280-0600 - Long distance calls to =
Old shows are archived at the site.
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321
New email to <> <>
Disclaimer:  This question has been answered without detailed =
information or
consultation and is to be regarded only as general comment.   Nothing in
this message is or should be construed as advice in any particular
circumstances. No contract exists between the reader and the author and =
and all non-contractual duties are expressly denied. All readers should
obtain formal advice from a competent and appropriately qualified legal
practitioner or tax specialist in connection with personal or business
affairs such as at <> . If you forward
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Be ALERT,  the world needs more "lerts"
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