Quite frankly, it was a mess... but only because I had someone back me. See, he's getting half of what I won, but they filled out a 1099-G with my name on it, meaning I'm getting taxed on the whole thing. There are partnership forms and whatnot that you can fill out, but he's in a way high tax bracket and wanted me to pay the taxes on the whole thing and then he'd reimburse me. I think this is ok, but it leaves a messy lookinmg paper trail and blah blah blah...
Had this been "normal" circumstances, I'd just be adding 44k under my gambling income and the rest would work itself out.... that's easy enough.
|