Are gambling winnings taxable in New Jersey?
Asked a year ago
Yes, gambling winnings are taxable in New Jersey. The state considers gambling winnings as taxable income, regardless of whether they are obtained in-person at the casinos or through online gambling platforms. This applies to all types of gambling such as casino games, poker, lottery, and sports betting. It is essential for taxpayers to report their gambling winnings on their New Jersey state tax return, including winnings from out-of-state casinos. Failure to do so may result in penalties and interest. Moreover, it is important to keep track of gambling losses as they may be deducted from gambling winnings, subject to certain limitations and requirements outlined by the New Jersey Division of Taxation.
Need further help?
Type out your followup or related question and we will get you an answer right away.
Similar Questions
Need to contact New Jersey Division of Taxation?
If you need to talk to New Jersey Division of Taxation customer service, now that you have the answers
that you needed, click the button below.
Contact New Jersey Division of TaxationNew Jersey Division of Taxation
Find a list of many popular New Jersey Division of Taxation questions with answers or step by step guides on our FAQ page below. Or ask a whole new question and get an answer right away.
New Jersey Division of Taxation Customer Service FAQAsk a QuestionWas this page helpful?YesNeeds work
Sharing is what powers GetHuman's free customer service contact information and tools. You can help!