Re: One-Time Stakes and Taxes
1)there are forms for this (the casino should fill these out for you but may require the staker to be present)
2)the new tax regs were withdrawn, don't worry about them
3)the best way of handling this sans the #1 form is probably to write a contract spelling this out in advance, give everyone involved a copy for their records, then just do what it says.
note that doing "X gets a cut of the post-tax winnings" is really dumb for at least one of you (the one who has way less in income than the other guy.)
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