Congrats! Your football bet won the jackpot. The prize may or may not be legal, but you can bet you owe taxes on it.
You won in Vegas. Football gambling is legal at casinos in Nevada and Delaware. The larger your prize, the more likely you (and the IRS) are to receive a tax form, such as a 1099-MISC or W2-G, to report the prize. No form? You’re still obligated to report winnings, regardless of size, on your tax return as “other income.”
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