This is not correct, be aware if you are swapping percentages, or making a deal the tax situation is significantly more complicated. For a professional your tax accountant can correct the situation at the end of the year, but for an amateur, they will have to eat the additional taxes. The following link explains in detail, and the proceedure you will need to go through, certifing your attempt to have the casino accept the 5754, and their refusal. This will be a hassel for pros, but could really cost amateurs alot, especially if one wins the series, but has a split. They will have a nearly impossible time offloading the tax burden of the other 50%. Thank you again Harrah's. By the way, the FBAR deadline was yesterday, hope everyone filed. If not see posts in legislation.
http://www.taxabletalk.com/archives/...07_05_19.shtml