I have the same issue. Conclusion: What tax do you owe on Chumba Casino winnings. I got an audit from IRS for year 2017 when I played Chumba Casino and received 1099k from PayPal for all winnings I received but not sure how and if I filed it correctly. ago. Last night or early today 2 a. If you got a 1099, you need to report it though. May-21-2017 12:39 PM. I did cashout to Paypal, but I got no notifications from PayPal or Chumba in my e-mail. 1. Chumba's easy-to-use site and app are powered by high-quality software delivering strong graphics, effortless usability. Painter411980 • 2 yr. There are no live dealers. How to report Chumba Casino online gambling taxes. My favorite online casino, Ignition Casino, gives you 200% extra if you use Bitcoin. 3. . You wager the SC to win more SC (or lose them). ago. Do you have to pay taxes on Chumba Casino? You do not have to pay any taxes simply for the act of playing the casino-style games at Chumba. If it's recorded as gambling winnings, there is also a spot to report gambling losses. A casino can withhold the taxes and give you the correct form for the IRS, but since Chumba isn’t in the US and isn’t a “Casino”, they don’t withhold anything. Since Chumba is considered a sweepstakes, it’s anything $5k and up. I need to contact turbo tax if an accountant could fix this for me. ago. Billiance • 1 yr. Chumba Casino aims to be a leading social casino bringing fun and excitement to social casino fans globally. For you, that means Chumba Casino taxes will have to be paid if you come out on top. I believe you’ll have to itemize to report the gambling winnings and expect to pay about $2k in taxes on it. Chumba is legal in most of the US because it is not considered gambling but instead is a sweepstakes game. There are better online casinos than Chumba for every player. Mar-14-2018 06:22 PM. So, do you pay taxes on Chumba Casino earnings? Yes, our understanding is that you have to pay tax on all sweepstakes redemptions, including those from Chumba Casino. You can actually view your transactions on Chumba and see how much you spent. Chumba Casino is a social casino owned and operated by VGW Malta Limited, part of the VGW Group. Chumba is legit in that users can play free and win money, too. Whether that’s 10k at one time or 4K then 6k. User experience. From what I understand it’s 10,000 total of related charges. dankasaurus_nug • 2 yr. The game selection is limited. Is that normal or it's Sunday be patient. You purchase gold coins and with that you are given sweepstakes coins (SC). You'll then get a Chumba Casino tax form or Form W-2G, which you can submit alongside your income tax returns. It's painfully outdated for online casinos not to have live dealers at this point. Just deposit less then 10,000 and the bank won’t tell the IRS then have free money no taxes. " That's because it's a Game, not a casino. m. 2. As we said above these can actually be played for free without the need for any financial transactions to take place between you and Chumba. Our initial focus is on the US, "the home of casinos", and Canada, but we intend to expand globally very soon, making Chumba Casino truly. The bad news is that all gaming profits are fully taxable in every US state. I did not get REAL excited or tell. Strong. It's not a real money online casino but does sit firmly in a list of legit sweepstakes casinos where winning cash is a firm possibility. There are two primary ways to report Chumba taxes. However, since Chumba claims it is not gambling, but rather sweepstakes, I don't know if you can record your. You're not betting real money. Understanding Chumba Casino taxes is essentially two-fold. I won $5,000 Real Cash in Chumba. "He did not receive a W2-G gambling form or 1099. There is no bonus. ago. Posted on. As with winnings from sports betting sites and casinos, any winnings from lotteries, sweepstakes and even game shows are taxable as well. Chumba provides fun games but I am worried about tax liability. Mexi_Cant • 2 yr. The first is allowing the casino to pay withholding taxes on your behalf. Is Chumba a total scam, I have deposited REAL funds $10, $10 then $30 and I won. "Since Chumba Casino operates with play-for-fun currencies and it’s considered to be a social gaming platform, we must say that the whole payment system is different compared to the one you can find at other PA online casinos.