Answer by trickster
i think 5000
Answer by david_in_milwaukee
I seem to remember somewhere that I read the IRS collects the tax at $ 10,000 so the max you can win and not pay taxes would be $ 9,999.99
I could very well be wrong, but I read this not to long ago.
Answer by JDW1
Legally speaking, you have to pay taxes on all net gambling income. Practically speaking, you can usually fly under the radar if you stay below the 10k mark.
My only advice is this. Tax evasion penalties are stiff and can include prison time if they can prove you willfully under reported your income.
Know better? Leave your own answer in the comments!
Orignal From: what is the highest amount on $ to win, and pay no taxes?
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