Cashing out Chips at a Casino
For those who make thousands at the casino...do you always cash out all your chips? Whats the max you cash out?
Im asking for tax purposes...how does it work/get reported to the IRS?
When you cash out $2K...no questions asked by the teller...when you start cashing out $5K they want your players card or ID...
Once I cashed out $13K and they wanted my social security number.
Im sitting on $45K in chips and not sure how to go about to cash them out...either small qtys at a time or all at once.
For those who make thousands at the casino...do you always cash out all your chips? Whats the max you cash out?
Im asking for tax purposes...how does it work/get reported to the IRS?
When you cash out $2K...no questions asked by the teller...when you start cashing out $5K they want your players card or ID...
Once I cashed out $13K and they wanted my social security number.
Im sitting on $45K in chips and not sure how to go about to cash them out...either small qtys at a time or all at once.