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AGA hails long-overdue change to slot tax reporting threshold Roughly halfway through the 870-page OBBBA, Section 70433 increases the threshold for reporting jackpot wins on slot machines in land-based casinos For the past half-century or so, casinos have been required to issue a W2-G tax form whenever a patron wins a slot machine jackpot of $1,200 or more
What the New Tax Law Changes for Slot Machine Players - MSN Previously, any win of $1,200 or more triggered an automatic stop in play while casino staff collected your details for IRS Form W-2G, which is the tax form that casinos must use to report
Jackpot! IRS threshold for slot wins changing to A major win for gamblers raises the jackpot reporting threshold to $2,000 next year, officials confirmed this week For gamblers accustomed to the $1,200 threshold for slot machine jackpots, it's big news
Gambling tax changes in 2026: New 90% loss deduction rule One change supported by the American Gaming Association will raise the IRS reporting threshold for slot machine winnings from $600 to $2,000, reducing interruptions for players
Instructions for Forms W-2G and 5754 (01 2021) - Internal Revenue Service A payer may use the optional aggregate reporting method to report more than one payment of reportable gambling winnings from bingo, keno, or slot machines received by a payee in a 24-hour calendar day or "gaming day" on a single information return
Form W-2G: How to Report Gambling Winnings to the IRS Now, reportable winnings are those that meet IRS thresholds for documentation and tax obligations If you win a significant amount from gambling activities, such as $1,200 from a slot machine or $5,000 from a poker tournament, a gambling institution will issue you a Form W-2G
What Gambling Winnings Need To Be Reported To IRS? Generally, casinos, racetracks, lotteries, and other gambling establishments are required to report winnings over specific amounts to the IRS using Form W-2G