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How much taxes do you have to pay on casino winnings?

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Answer:

Gambing winnings are like any other "ordinary income" (although provable losses are deductible against the winnings). You pay tax at your own personal effective rate, (different for everyone) after deductions, exemptions, other earnings, state taxes, etc.

First answer by IamLostRU. Last edit by IamLostRU. Contributor trust: 1567 [recommend contributor ]. Question popularity: 1 [recommend question].

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