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Gambling Winnings & Losses

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  4. Are my gambling winnings from the slot machines subject to backup withholding ?

Are my gambling winnings from the slot machines subject to backup withholding ?

If you do not provide your taxpayer identification number to the payer, the payer will not withhold tax. Winnings from slot machines, bingo or keno are not subject to the 28% income tax withholding rules. If you do not provide your taxpayer identification number to the payer, the payer will withhold tax at the 31% backup withholding rate.

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