Ok, last year I won on 2 slot machines at a casino. I received 2 seperate W-2g forms. I they both total, say $2700.00. I lost one of the w-2 G forms. I had been calling the casino to see if I could get a replacement, but to no avail. So I went on and filed the return and put 2900.00 as reported gambling winnings using all of the info on the one W-2 g form that I had. ( I learned that understating income is a NO-NO...) Does anyone know if I will trigger an audited for doing this even though I listed more winnings than I actually won? I was simply trying to not have the IRS on my butt. Any comments would be appreciated, especially those who really know the deal. THANKS.
2007-04-13 09:18:04 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
WOW thanks so much to all for answering this so quickly.. I can really enjoy the weekend now, without all the worry. Again, thanks and God bless.
2007-04-13 09:39:36 · update #1
I doubt that you will hear from the IRS about this. It will not be enough to trigger an audit. Not reporting 1500 or so probably would have been.
2007-04-13 09:23:58 · answer #1 · answered by Susan S 2 · 0⤊ 0⤋
This should not trigger an audit.
You can always report more than what was shown on the W2-G, since it is entirely possible that you might have had other small wins for which you didn't receive a W2-G. The IRS will therefore just assume that you had additional small wins that you declared.
It's annoying that you had to pay tax on the additional $200, but the IRS isn't going to audit you for it.
2007-04-13 09:24:33 · answer #2 · answered by Bettina C 2 · 0⤊ 0⤋
You are supposed to report all gambling winnings, even if you never received a 1099. So that difference could be a sum of many other smaller winnings you had all year long. However, I would file an amended return and get the income tax back on that overstatement!!!!
2007-04-13 12:21:26 · answer #3 · answered by LC 2 · 0⤊ 0⤋
No, this won't trigger an audit, or even raise a question - for all they know, you might have won the other $100 on a scratch-off ticket, but wouldn't have gotten any paperwork on it because it was under the limit to get a w-2g.
2007-04-13 09:29:45 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
I've never heard of reporting too much income causing a problem
but no problem,, if you are audited, you will receive refund,, right?
2007-04-13 09:28:44 · answer #5 · answered by Jo Blo 6 · 0⤊ 0⤋