Cleos 1099s are going out

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    Last post ago almost 3 years by Cat50
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    miked434

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        miked434

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        So who got theirs?  It totaled up all the cashouts instead of just ones over a certain amount...

        I was hoping they were just talking about it and wouldn't actually send it out and report it. 

        Cleos was good to me for awhile but lately can't hit anything and now actually having to pay taxes on everything kinda dampers it.
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        budala

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        Sry I'm left confused by your post.
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        BMWSTACK

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        miked434 wrote:

        So who got theirs?  It totaled up all the cashouts instead of just ones over a certain amount...

        I was hoping they were just talking about it and wouldn't actually send it out and report it. 

        Cleos was good to me for awhile but lately can't hit anything and now actually having to pay taxes on everything kinda dampers it.


        Wow this is a crazy scenario!

        1)1) Did they actually report this to IRS?  I believe it is still highly unlikely they did.  There is nothing legal about their operation, and I doubt they would want exposure doing such.  They can print a 1099 not report it, send it to you and then you end up reporting it on yourself

        2) Normally in the us only winning of 1199.99 on a one time hit (jackpot) need to be reported by a casino, sometimes horsetracks and lottery report at about a $600 amount.  Now if they are lumping it together it is more like earnings like a subcontractor.  Either way if they were actually going to report in these types of manner the losses would need to also be calculated in and then a total given.  But again I am skeptical that it was reported.

        I believe they are doing this all for show, which means they are really doing this in the event that an agency such as the DOJ came down on them they could go say , "look we sent out 1099s", but again I seriously doubt they will throw themselves into the fire by reporting it themselves, because if you actually go and include it in your taxes your not saying its jackpots from casinos, your just reporting it as additional income. But of course if you did report you could itemize and deduct losses, but you would want proof via a win/loss statement from the casino.
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        2fast4u wrote:

        Sry I'm left confused by your post.


        A "1099" is a form sent to the IRS reporting your winnings with a copy sent to you. That means players have to claim them on their  taxes. This is the first i have ever heard of any online casino doing this. But then again Cleo's VIP Room claims not to be a "Casino"........semantics.

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        Cat50

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        Luck works in mysterious ways. Now i m more then thankful i could never play at dear ole Cleos.
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        budala

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        Thanks for the clarification Lips... Now it makes sense lol
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        gwolfman

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        Yes I just got my 1099 from Cleos >:D. I also did well the first few months there. now I don't even play there  anymore because the machines are so tight now I never win anything at all.

        I also think it sucks they added everything up in one lump sum  >:D. My wife played there a year and only cashed one time for $150. I think people should no longer use Cleos!!!
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        momzie

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        Yes, I got mine.  I'm not bothered by reporting it, I still came out just fine.
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        Cat50

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        I have a question and forgive me in advance if it is a stupid one but how are they doing this when online gaming is not legal in most USA states sorry but i would not be ok with filing out a 1099 tax form from anything online (IMO).
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        jodiisgreat

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        rena35 wrote:

        I have a question and forgive me in advance if it is a stupid one but how are they doing this when online gaming is not legal in most USA states sorry but i would not be ok with filing out a 1099 tax form from anything online (IMO).


        Rena they classify themselves as a 'sweepstakes' and not a gambling facility that's why they have their VS credits that they give you. I stopped depositing there a long time ago when it was reading about everyone having problems getting paid....
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        anneloc

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        okay this is total b.s  because I asked them if we had to pay taxes on these winnings and they said no and I filled out a form that was for sweepstakes and was told repeatedly that it was not taxable  no I get a 1099 for 6000.00 dollars  and even if I wanted to play there I cant ever get a credit card to go through and they cant help by telling me why it all of a sudden doesn't work none of them the several cards I have used before to deposit ..  I think they pretty much don't want me playing there because I did so well.    >:( 
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        Cat50

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        anneloc wrote:

        okay this is total b.s  because I asked them if we had to pay taxes on these winnings and they said no and I filled out a form that was for sweepstakes and was told repeatedly that it was not taxable  no I get a 1099 for 6000.00 dollars  and even if I wanted to play there I cant ever get a credit card to go through and they cant help by telling me why it all of a sudden doesn't work none of them the several cards I have used before to deposit ..  I think they pretty much don't want me playing there because I did so well.    >:( 




        Oh my that is horrible. Some people say they don't mind but to each their own. I would also be livid.

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