Answers » Categories » Money & Finance

Do I Have to Pay Taxes on My DraftKings Winnings?

I'm i responsible for paying taxes on money won playing fantasy football on DraftKings.com?


0
1 Report
MORE: taxes, fantasy football, draft kings

1 Answer
0 
According to DraftKings.com:

"You do have to pay taxes on your Cumulative Net Profit from fantasy sports. DraftKings is required to issue 1099 tax form(s) to any player who has a cumulative net profit in excess of $600 for the calendar year. This is calculated by the approximate value as ((prizes won - entry fees)+bonuses)."
Sep 11th, 2015 at 7:05 PM
Reply

Answer this question

by Anonymous - Already have an account? Login now!
Your Name:

Your Answer:
Source(s): (optional)

Enter the text you see in the image below
What do you see?
Can't read the image? View a new one.
Your answer will appear after being approved.

Ask your own question

Tagged
taxes (122)
fantasy football (7)
draft kings (5)

Ask a Question

Categories
Electronics
Internet
Celebrities

Follow Us