It's that time of the year again.... TAX TIME and if you don't already know, gambling winnings are taxable income. Hope you kept a logbook of your play throughout the year. Whether you won or lost money last year, keeping a proper record of your wins and losses is very important if you plan to keep more of your winnings at the end of the year.
Assuming you had a lucky day last year and hit a jackpot of $40,000. Before the casino hands over the money, they will make you fill out a W2-G form which lists your name, address and Social Security Number.
The reason you are required to fill out a W2-G form is that the Internal Revenue Service (IRS) requires casinos to report on a W2-G form all players' jackpots of $1,200 and above. In your case, your $40,000 jackpot becomes taxable income. Don't panic yet. Assuming throughout last year you lost $100 here and there for a total loss of $12,000. As long as you kept a proper log of your wins and losses, you will have gambling losses to deduct from your winnings thereby lowering your income tax.
Note: Please seek the advice of a Tax Professional on the current tax laws and which records you need to keep.
What is a Win/Loss Statement?
A Las Vegas Casino Win/Loss statement is an estimate of what an individual casino customer won or lost during a calendar year based on the player tracking information.
As far as tax documents go, a win/loss statement is one of the most important communications you had with the casinos you frequent and a very important document your tax professional will need.
The Win/Loss (Tax) Statement you will receive from your casino merely provides an unverified estimate of your slot and table game win/loss that you can use to compare to your own records and is not a substitute for the records you are required to keep under applicable State and Federal tax laws.
For information on your tax record keeping obligations, contact a reputable tax professional or go to www.irs.gov and use the search term "gambling losses."
Note: It's your responsibility to request a win/loss statement. Don't expect your casino to send it to you automatically.
What information is included on my Win/Loss (Tax) Statement?
Your Win/Loss statement is the total estimated dollar amount you have won or lost at a casino for certain recorded gaming activities. It's important to mention that this is an Estimated Statement and knowing how to read win loss statement is important.
1 The Win Loss Statement you receive from your Las Vegas casino is not a substitute for the records you are required to keep under applicable State and Federal tax laws. This is merely a statement that you can use to compare to your own records.
2 Your losses will be shown as negative amounts and will be reflected with parentheses.
3 Only the play recorded while using your players rewards card is included in these totals
4 Your win/loss information will include unverified, estimated slot and table game wins and losses, but does not include other wins or losses such as race and sports book wins and losses, poker wins and losses, keno wins and losses, slot tournament wins and losses, or giveaway party prizes.
5 The formula to estimate your net slot win/loss is calculated by taking total coin paid out of the machines, plus jackpots paid by hand currency, less total coin deposited into the machines as recorded while using your players rewards card.
6 The method to estimate your table game win/loss is done by a manual rating of your table game play that you have requested which is based on hands dealt per hour and average bet. Note: This information does not constitute a complete and accurate accounting record, but merely provides an unverified estimate of your slot and table game win/loss.
What Gambling Winnings are Reportable?
Report gambling winnings on Form W-2G if:
1. The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine,
2. The winnings (reduced by the wager) are $1,500 or more from a keno game,
3. The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament,
4. The winnings (except winnings from bingo, slot machines, keno, and poker tournaments) reduced, at the option of the payer, by the wager are:
a. $600 or more, and
b. At least 300 times the amount of the wager, or
5. The winnings are subject to federal income tax withholding (either regular gambling withholding or backup withholding).
Below is list of Las Vegas Players Club Cards, their corresponding Las Vegas hotels and Casinos and a link to download a Win\Loss statement request form.
For the casinos listed above, Win/Loss statements are available online. They are available the first week in February for the previous year.
Access and print the past five year's win/loss statements by logging into your Caesars Rewards account and select "Program Details" and then "Win/Loss Statements"
Note: Total Rewards is now Caesars Rewards
To obtain your Mlife Win/Loss Tax Statements, sign in to your M life Rewards account and navigate to "Win/Loss (Tax) Info" in the top right corner by clicking on your name. Select the time period you would like to view. Your Win/Loss statement will automatically update based on your selection. Select "Print Win/Loss Info" for a printable form.
For futher assistance, call M life Rewards Member Services at 866-752-7111 for assistance.
Log onto B Connected Online and Click "Account" on the top menu to access your win/loss statement online. Alternatively, you can visit the B Connected Club at your favorite Boyd Gaming casino in person to get your win/loss statement.
Green Valley Ranch
Red Rock Resort
Santa Fe Station
Palms Casino Resort
Wildfire Casino - The Wild Wild West, Barleys, The Greens, Wildfire Boulder, The Wildfire Rancho, Wildfire Lanes and Wildfire Sunset.
Log onto myBoardingPass online account and print only Win/Loss Statements for the most current year. Past Win/Loss Statements can be obtained by downloading and completing the Win/Loss Statement Request Form
You can receive a copy of your current Club Grazie Win/Loss statement by contacting your Host, or sending an email request to LV_GRAZIE_Management@sands.com
Grazie Desk Location
The Palazzo (Location 222)
The Venetian (Location 120)
Sunday - Thursday, 8 a.m. - 1 a.m.
Friday - Saturday, 8 a.m. - 2 a.m.
Marquee Rewards and mychoice are now one. Player Services 1-800-829-9034, Open daily 10 am to 10 pm PST.
To request Win/Loss statements prior to 2016, follow this linkRequest Win/Loss Statement
When you have completed the request form, bring it to the ace | PLAY™ Center, or send it to the Las Vegas casino listed
Download Win/Loss Request Form
Ace Play became True Rewards. True Rewards went LIVE at The Strat Hotel, Casino & SkyPod on February 19, 2019. More Info.
|Las Vegas Hotel||Win/Loss Statement|
|Arizona Charlies Decatur||Download Win/Loss Statement Request Form|
|Binion's Gambling Hall & Hotel||Download Win/Loss Statement Request Form|
|Cosmopolitan of Las Vegas||Request Win/Loss Statement
Call 702-698-7280 or visit the Identity Membership desk
|the D Las Vegas Casino Hotel||Download Win/Loss Statement Request Form|
| Eastside Cannery
||Download Win/Loss Statement Request Form|
|Four Queens Hotel & Casino||Download Win/Loss Statement Request Form|
|Golden Nugget Las Vegas||Download Win/Loss Statement Request Form|
|Golden Gate Hotel Casino||Download Win/Loss Statement Request Form|
| Hard Rock Hotel Casino
||Download Win/Loss Statement Request Form|
|Las Vegas Hotel||Win/Loss Statement|
|Plaza Hotel Casino||Download Win/Loss Statement Request Form|
|Treasure Island (Ti)||Download Win/Loss Statement Request Form|
|Silver Sevens Casino||Download Win/Loss Statement Request Form|
|Sahara Las Vegas||Download Win/Loss Statement Request Form
|SouthPoint Hotel Casino||Download Win/Loss Statement Request Form|
|Rampart Casino||Download Win/Loss Statement Request Form|
|WestGate Las Vegas||Download Win/Loss Statement Request Form|
Golden Rewards Card
Sierra Gold - Las Vegas, NV
Sierra Gold - Henderson, NV
Sierra Gold - North Las Vegas, NV
Sierra Gold - Buffalo & Smoke Ranch
PT's - Las Vegas, NV - Sunset & Paradise
PT's - Henderson, NV - Anthem & Bicentennial Pkwy
PT's - Henderson, NV - St. Rose & Eastern
PT's - Las Vegas, NV - Russell & Hualapai
PT's - Las Vegas, NV - Centennial & Losee
PT's - Las Vegas, NV - 215 & S. Buffalo
PT's - Las Vegas, NV - 215 & Sunset
Silver Sevens Hotel & Casino
LasVegasHowTo.com is strictly a travel information website and in no way affiliated or associated with any Las Vegas casino, and/or it's respective companies. If you have specific questions regarding your win / loss statement, please contact the casino directly.
Please do not contact us to request a Win/Loss Statement. Click on the link next to the casinos listed above or contact the casino directly.