Gambling and Taxes with Gambling Author Jean Scott
Steve Bourie, author of the American Casino Guide, interviews noted gambling author, Jean Scott, for her insight on gambling and taxes. Jean is the author of "Tax Help For Gamblers" and Steve asks her about what kinds of taxes U.S. gamblers must pay on their winnings, including federal, state and city. Other topics include: what winnings must be reported, how winnings must be reported, the tax differences between "recreational" and "professional" gamblers, when losses can be deducted against winnings, the procedures a casino will follow when you win a taxable jackpot, do you need to show your social security card to claim your jackpot? Plus, much more.