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WinStar Blog

Preparing For Tax Season

Tax time is here. We want to make sure you’re prepared with everything you need to have your taxes in order well before the April 18 deadline.

What is a win/loss statement?

A win/loss statement is a one-line summary of your coin-in and coin-out for initial tax filing. This statement is an annual record of your wins and losses.

Why do I need a win/loss statement?

The win/loss statement can be useful when reporting additional income or claiming losses. You are able to claim losses up to the amount of your winnings on Schedule A, Itemized Deductions under “Other Miscellaneous Deductions.” Your wins and losses will be reported separately.

Please remember that your win/loss statement is only a reference tool. In case the IRS audits you, it is important to keep a log detailing your activity throughout the year.

How do I request my win/loss statement?

This year, we have a new and way to get your win/loss statement. By visiting select self-service kiosk banks in either the Beijing or London areas of the casino, you will be able to print a statement right here in the casino. If you need assistance using the self-service kiosks, there will be a representative to assist you. To use the self-service kiosks, to request your win/loss statement, you’ll need to have a valid email address listed on your Club Passport account.

Additionally, you can visit us online to get a copy of your win/loss statement. You’ll need your WinStar Club Passport account number and PIN. If you can’t remember your PIN, you can visit any Players Club desk or self-service kiosk to reset your PIN. 

What is a W-2G?

A W-2G form is a tax form you should receive at the time your winnings are received. It’s an official tax document issued for individual jackpots and other gaming winnings over a certain amount. Be sure to save this form when you receive it. You’ll need it for filing purposes. If you need a new form, you can request a replacement (see below).

Why do I need a W-2G?

Winnings should be reported as a source of income. Any income received as a result of a gambling win is subject to federal tax income withholding.

How do I request a replacement copy of my W-2G?

You can request a replacement copy of your 2015 W-2G form(s) by visiting our website and downloading the request form. You will need to print and complete the form and then either mail or fax the form in along with a copy of your valid photo I.D. and social security card.

Forms can be submitted:

By Mail
ATTN: TAX DEPARTMENT
2020 Lonnie Abbott Blvd.
Ada, OK 74820

By Fax
ATTN: TAX DEPARTMENT
580-272-5289

The IRS website is an excellent resource for official documents and tips if you have questions about reporting wins or losses from gambling. The most important thing to remember is to keep accurate records of your activities throughout the year.