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While you are to play in the a personal webpages with real cash awards, that is officially good sweepstakes gambling establishment.” ? For individuals who win a reward regarding $5,000 or more, brand new sweepstakes casino usually keep back 24% of the award and you can material a W-2G income tax form documenting just how much could have been withheld. Tax treatment of sweepstakes prizes may differ based on amount and you may personal circumstances.

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