"25% of your action" and the high hand jackpot -- story + poll

[psandman]

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So either y'all do a 5754 and each pay your income tax separately (way too much bother), or you just make a guess as to how much income tax Tyler will owe on this. If you live in Nevada, and make a middle-class income, it's gonna be 25%.

[/ QUOTE ]

Unless of course Tyler will itemizing his deductions and declaring losses that equal his gambling winnings in which case the net tax on his gambling winnings would be 0.