Yesterday I scored another final table and another cash in a Bodog tournament, finishing 7th out of 400+ players. The buy-in was only $10, so one had to go very deep to win much of anything. I got $110 out of it for four hours of playing, which is OK, though hardly spectacular.
Anyway, because of this recent string of success in Bodog tournaments, I had asked to cash out some of my winnings. I got the check in the mail today. I was amused to see that my Bodog account number was listed as "Employee ID," and both the check and the stub have printed on them, "Payment for Marketing Services Rendered."
I didn't even know that I had done any marketing for them! I thought I had just won some tournaments.
When the IRS scan through your accounting records be sure to delete this post before they get to your blog.
ReplyDeleteSeriously though...how do these guys who make 3 figures a year report this?
Expect a 1099.
ReplyDeleteyou did post about them on the blog, so I guess you did "technically" advertise for them
ReplyDeleteBut THEY don't know that!
ReplyDeleteActually, I'd be surprised if you got a 1099-G.
ReplyDeleteI'm guessing the stuff written on there was to make it more likely you can cash the check without it looking like it came from a gaming site.
I agree. But it doesn't matter to me anyway, since I declare what I make.
ReplyDelete