How are gaming revenue distributions, including per capita payments, reported when the recipient is a minor?
A:
Gaming revenue distributions, including per capita payments, are taxable in the year of distribution regardless of whether the recipient is a minor, unless placed into a qualifying deferral...
AdDon't Wait, Start a 1-on-1 Accountant Chat Online Right Now. There's No Waiting or Hassle. Whatever the Problem, a Verified Tax Pro Can Solve It for You in Just Minutes Online.
24/7/365 Service · 1-on-1 Chat · 24-Hour Service · No Waiting
AdFiling Your Taxes Just Became Easier. File Your Taxes Stress-Free Online With TaxAct. Import Tax Data Online In No Time With Our Easy To Use Simple Tax Software.
Types: Deluxe Edition, Premier Edition, Self-Employed Edition, Basic Edition