If I won a slot hand pay recently but they did not withhold taxes. Can I pay the estimated taxes 24% to the IRS anytime this year, or should I pay now, March 7, 2024?

Forum|Forum|2 years ago
March 8, 2024
2 replies
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Plus they did not give me a W2-G but instead gave me a pink slip.

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Best answer by MonikaK1

Nevada does not have a state income tax so you won't need to file a return there.

If, based on your situation, you believe that you are required to make estimated tax payments, you can make a payment at any time on the IRS website. See this TurboTax tips article for more information.

Gambling losses are only deductible if you itemize your deductions, and only up to the amount of gambling income reported. See this TurboTax tips article for more information.

Vanessa A

You would not receive a W2-G until next year when it is time to file taxes.

You do not have to pay the taxes today, but they are do when quarterly estimated tax payments are due. For the first quarter that would be April 15th

You can pay directly via the IRS website which is the recommended way or you can pay by check. Be sure to include your SSN on your check and the tax year.

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rrosbor11Author

Reworded.

I had a question about paying estimated taxes after I won a hand pay on a slot machine last week, but I worded it wrong. They did not give me a W2-G nor withhold taxes. My question is, should I pay the taxes right away as estimated taxes, or can I wait till the end of this year? The lady said I would receive a W2-G next week. Also since it was in Nevada, and I don’t live there will I need to pay Nevada taxes for 2024?

Also why do I have to enter gambling losses when in the end I’ll take the personal deduction?

MonikaK1Answer

Nevada does not have a state income tax so you won't need to file a return there.

Gambling losses are only deductible if you itemize your deductions, and only up to the amount of gambling income reported. See this TurboTax tips article for more information.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"