If your winnings surpassed a certain threshold last year, the IRS undoubtedly has evidence of your activity from multiple sources. EBay’s…From within your TaxAct return ( Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal ). SB Wagers: $9973. For the fastest help, we recommend contacting the DraftKings Customer Support team via support request. Long story short, Paypal has been issuing 1099-K's for gambling withdrawls because for some reason their system doesn't take into account your deposits into those same gambling sites. ️ Cash prizes based on your cumulative score for the season. Over $42 billion has been legally bet on sports since betting expanded into more states in 2018, and the industry. Use your 1099 forms to determine your gross income. Taxes on winnings are to be reported on a Form 1099-MISC when submitting earnings to the IRS. 07030. Click Get in touch. It is still very early. If your winnings surpassed a certain threshold last year, the IRS undoubtedly has evidence of your activity from multiple sources. You do NOT claim net winnings. First, enter Form 1099-K as received. Online sports betting and daily fantasy sports are distinct products and regulated as such. Sam McQuillan. As many as 149 million taxpayers could be on the hook for taxes on legal winnings this tax season, 23 million more than last year. Kings Tack - get access to a huge library of legal forms. If any taxes on your. Per the email you must fill it out to continue to play on draft kings. ; 1099-MISC, Miscellaneous Income: The 1099. (Optional) , and agree to be updated about DraftKings' products, news and promotions. Say I do this 1,000 times through the year. Kings Drafting - get access to a huge library of legal forms. that we may send an IRS Form 1099-MISC or other appropriate form to any affiliate who earns Rewards greater than $600 (USD) in any given calendar year. Speak with tax professional. The SSN helps DraftKings verify the identity of players and prepare informational reporting tax forms (IRS Form 1099-Misc). dollars ($60,000) per transaction. "Although you only made a total of $25,00, the IRS receives two documents and believes. Daily Fantasy Sports. -1. they calculate ending balance - beginning balance. Draftkings was one of nine operators recently recommended for mobile licenses in new. SB Wagers: $9973. joey rourke cause of death; axa xl headquarters address stamford, ct. UK Office. Anthony Black SG/SF B $3. Reporter. How can that happen?1. Gaming Withdrawals: $2300. In deluxe version when I claim the loss amount As the same amount as the win it does not change my refund amount back to where it was before. Maryland law requires gambling companies to withhold 9. Issuers of 1099's and W-2's can be from any state where a company has nexus which does not apply to the taxpayer. CFB Injury Report CFB Injury News. 8425 sepulveda blvd, north hills, ca 91343. save. DraftKings on Jan. This year, I started selling stuff on eBay. Betting on the DraftKings Sportsbook is currently only available in certain states. Holiday packs. 1: $50 bonus bet with any deposit: Bonus No. A copy of the form is also sent to the IRS. 8425 sepulveda blvd, north hills, ca 91343. "A client that paid you through Venmo sends you a 1099-K for $10,000. dollars ($60,000) per transaction. Easily download and print documents with US Legal Forms. States have collected hundreds of millions in gaming taxes since the Supreme Court overturned the federal ban on sports betting a few years ago,. In addition my Draftkings net for 2022 is not positive lol . Alongside the cash prizes, DraftKings will be awarding prize packs of player card NFTs each week. The SSN helps DraftKings verify the identity of players and prepare informational reporting tax forms (IRS Form 1099-Misc). Even if you don’t receive a Form 1099,. Boston, MA 02116. NJ Division of Gaming Enforcement ATLANTIC CITY JACKPOTS November 15, 2023 Greater than $50,000 Page 4 of 61 10/26/2023 10/26/2023 10/25/2023 10/25/2023The best place to play daily fantasy sports for cash prizes. CFB Starting Lineups Advanced Lineups: DraftKings Advanced Lineups: FanDuel. Choose the last option, Other reportable income and Start and Yes. Professionally drafted and regularly updated online templates. Do I need to report that I made these winnings out of state since they are based in MA?Hi guys , I just received a 1099 form from paypal which is only used for Draftkings . You must track winnings and losses separately and report them, whether you receive a 1099-K or not. My W-2 G gambling win is offset by losses. Then, I will review the actual playing of contests including drafting your team and entering line-ups. For sports bettors, the IRS Form 1099 will be the most common tax form. Tax people say you must report any money as income, fantasy football, scratch off tickets, gambling winnings, tips, etc. Support Hours. Your 1099 will show you made $0. joey rourke cause of death; axa xl headquarters address stamford, ct. . We would like to show you a description here but the site won’t allow us. 1099-M would be Gambling income. This is dependent on your annual income. 6K. MGM. Hey all, I got a 1099-K from PayPal which basically shows all the payments FanDuel or draftkings sent me — I have to pay taxes on this? I sent them way more in deposits than they sent me in withdrawalSSee how to make a DraftKings withdrawal and how long each method will take. 00. United States. Draftkings taxes (first time, need help) Hi guys, Here is my draftkings summary for 2022. Find your AGI. The Fan Duel one was nice because they had already subtracted my deposits from my. If you don't report, make sure you can trace the money to show you had a net loss or at least no income to report. Re: PayPal 1099–k for online gambling. As Featured On: Receive a 1099-MISC from FanDuel or DraftKings? Got questions about Fantasy Sports, Sports Betting, Gambling and Cryptocurrency Taxes? Form W-2G from DraftKings (just sharing) We will issue a W-2G form each time a player has a payout of $600 or more (no reduction for the wagered amount) and a return that is 300X the amount wagered. DraftKings ranks 50th among Fantasy Sports sites. Winter Kiss. 15 Ingestre Place. Make your first deposit! Form 1099-MISC, Miscellaneous Income. 8425 sepulveda blvd, north hills, ca 91343. The best place to play daily fantasy sports for cash prizes. Draftkings 1099 form for 2021. On the Tell us about other self-employed income for your work screen, enter your 1099-K info; Select Continue when finished; If you are entering income from a 1099-K, remember that it reports the gross amount of the transactions. Click Download all to download and view both your Form 1099-K and your Goods and Services. • Schedule C is used to report income and expenses from a business you own as a sole proprietor or single-member LLC. Draftkings has this written regarding taxes: You do have to pay taxes on your Cumulative Net Profit from fantasy sports. It's possible that PayPal thinks your SSN (xxx-xx-xxxx) is an EIN (xx-xxxxxxx) and thus is failing when they try to verify it. Fantasy league winnings may show up on a 1099-MISC and are not gambling income (no wager). Note: PayPal Business accounts aren’t accepted for deposit or withdrawal on DraftKings. 07030. CFB Weekly Projections. If any taxes on your winnings have already been withheld, make sure to report that on the 1099 or W2-G. 9th Floor. ago. You should receive this form if you received payments from electronic or online payment services, or credit and debit card transactions. Overview. highest paid nrl player in 2021;We would like to show you a description here but the site won’t allow us. If you’d prefer not to submit a request or live chat, learn more about additional ways you can get in touch with DraftKings. February 4, 2021 9:09 AM. Gaming Withdrawals: $2300. 000000. joey rourke cause of death; axa xl headquarters address stamford, ct. highest paid nrl player in 2021;The answer is yes, your cumulative net profit is taxed, and DraftKings is contractually required to send a 1099 tax form to any player that nets of $600 in profit in a calendar year. highest paid nrl player in 2021;Draftkings 1099 Casino Jackpot Stories Nfl Week One Odds 2017 Online Gambling Tricks In Game Prop Bets Wire Act Sports Betting. The “income” totaled over $50k. 25% state income tax, and your income tax bracket needs to include. Mod. Conveniently, there is only one app across all the markets DK operates in, so you don’t need separate sports betting apps to bet in New Jersey vs. DraftKings Support team is efficient and quick to respond. 000000 Casino Winnings: $0. Tax Day is right around the corner, and sports wagering winnings should be part of a bettor’s annual filing. Agree. ? If so, then do i file a tax return for the state of MA? No, it is not necessary for you to file a MA return. That’s about 106 million people. Lineup not released Projected Lineup. A member of our support staff will respond as soon as possible. joey rourke cause of death; axa xl headquarters address stamford, ct. The PayPal account used for withdrawals must be in your name. DraftKings Sportsbook launched in New Jersey back in August 2018, and alongside FanDuel Sportsbook has led the way in sports betting. This will result in no taxable income if you sold the item for less than you paid for the fish finder. Independent contractors can deduct virtually any business expenses. Thanks !DraftKings Refer-a-Friend Program (the "Program") allows you,. Soho, London. The thing is, I was waiting for tax documents, but I do not see. If your annual net winnings exceed $600, then FD is required to file a 1099-MISC tax form. We would like to show you a description here but the site won’t allow us. Professionally drafted and regularly updated online templates. 6K. It was a lot of withdrawls that made the total go so high. highest paid nrl player in 2021;Download DraftKings Apps and get in on the action today. Draftkings 1099 form for 2021. Under the “Tax Documents” section, select the year you need from the dropdown. This, however, doesn’t mean that if you consistently win and fail to report your winnings the tax office wouldn’t notice. Attachments (optional) Add file or drop files here. Find out if you need to. We will withhold federal income tax from the winnings if the winnings minus the wager exceed $5,000 and the winnings are at least 300 times the. 15 Ingestre Place. 🇺🇸 We're currently live and accepting bets online in Maine,. 5% of winnings over that threshold for non-residents. Lastly, DraftKings is hosting a 50-person live final in New Orleans at the end of the season. CFB Starting Lineups Advanced Lineups: DraftKings Advanced Lineups: FanDuel. We would like to show you a description here but the site won’t allow us. I thought gambling winnings are given on a W2, I received a 1099 misc from DraftKings Tax Professional: Barbara , Enrolled Agent replied 5 years ago Gambling winnings are not shown on a W-2 . Find out where it's legal and get started betting online today! Whether you have forgotten your password or just want to change it, you can reset you DraftKings password here. File taxes with no income. Posted by 10 hours ago. Hunter Tyson SF/PF B $3K. Hi, I made accounts on Fanduel/Draftkings last October (10/2021), and up to this point, I won 1800 on Fanduel and around 700 on Draftkings. There has to be a way to deduct the cost of the contests, otherwise I lost mo. This change makes documenting and reporting your income from gambling on your 2022 1040 even more. In general, winnings are reported to the irs in certain situations: Here are two of the basic irs forms used to report winnings from gambling, including the standard personal income tax form. do you have to pay taxes on draftkingsAppearance > Menus (619) Patriot (728-7468) magali brunelle lawyer; OPR No: 12689 | Trapper ID No: 64965. The code change, approved by Democrats and signed by President Biden in March 2021, will require TPSOs like Venmo, PayPal, Etsy, AirBnB and more to send 1099-k forms to the IRS and to recipients. Your tax office probably won’t bother if you have won and failed to report anything below $1,200. Hot. Feb-06-2021 03:07 PM. Level 15. You may contact our Customer Support team to request a Win/Loss Statement that details your account activity for a requested time period. MEET AMERICA’S #1 ONLINE CASINO* New customers, choose between a 100% deposit match up to $500 in Casino Credits when you deposit $5 or more, OR 100% of your net losses back for 24 hours up to $1,000 in Casino Credits following opt-in. ago. I never received 1099 from DK or FD on my earnings (not over $600 individually), but I withdrew over $600 over the course of the year, net earnings from both, and received a 1099 from PayPal. So if a bettor makes 10 wagers of $1,100 each and goes 5-5 on those. Suite 265. Online sports betting and daily fantasy sports are distinct products and regulated as such. DraftKings Sportsbook. Enter a search term related to your issue. There, bettors report. Instead, you should make it a point to re-establish your presence in their lives. However, if you use PayPal, it may be a 1099-K. Draftkings 1099 form for 2021. I've never needed one from Draft Kings so not sure on that front. We would like to show you a description here but the site won’t allow us. But based on what you're saying, should I receive a W2G from draftkings saying I made $2,500 and a 1099-K from PayPal saying I made $3,500. If you live in a state where online sports betting is not permitted, you can sign up via. Michigan has prepared the following session methodology which may be helpful when you offset gains and losses - you can do so on a per-day, per casino basis, but losses for a day go to itemized deductions while gains for a day flow through as income. Franz Wagner SF B $6. Make your first deposit! Major fantasy sports sites and apps (DraftKings, FanDuel, BetMGM, etc. Paolo Banchero PF B $7. Step 2 – Deposit Money. I keep reading about itemize deductions are required however when I change to itemized my refund is even less. The 1099 tax forms report your winnings to the taxing authorities and let you know the amount you must report on your tax return taxes. PayPal withdrawal amount cannot exceed sixty thousand U. At what amount of net winnings will i have to report at the end of the year? Or is it only on large single winnings? My coworker hit a $20k+ parlay and they blocked it and immediately took out taxes. We would like to show you a description here but the site won’t allow us. Everyone saying that you report total winnings as income and report losses as a deduction is correct. do you have to pay taxes on draftkingsAppearance > Menus (619) Patriot (728-7468) magali brunelle lawyer; OPR No: 12689 | Trapper ID No: 64965. DraftKings Sportsbook is an online sports betting platform from Draftkings. The $150. Claim $150. ” Every bet has a hedge on another app, one wins and one loses, resulting in a net profit of $10. highest paid nrl player in 2021;Gambling includes placing, accepting, recording, or registering bets; participating in lotteries; or otherwise carrying on a game of chance for money, property, or other things of value. Amended tax return. The best place to play daily fantasy sports for cash prizes. Here’s an example with Draftkings Casino: This simply means that you will need to wager or place bets that amount to 10 times the original deposit plus bonus before any winnings will be released for withdrawal. The following rules apply to casual gamblers who aren't in the trade or business of gambling. If you or someone you know has a gambling problem, call the Virginia Problem Gambling Helpline at 888-532-3500For the 2022 tax year, Venmo will issue a Form 1099-K to business profile owners and individuals who have passed reporting thresholds for payments received for goods and services. We would like to show you a description here but the site won’t allow us. Gambling includes placing, accepting, recording, or registering bets; participating in lotteries; or otherwise carrying on a game of chance for money, property, or other things of value. MEET AMERICA’S #1 ONLINE CASINO* New customers, choose between a 100% deposit match up to $500 in Casino Credits when you deposit $5 or more, OR 100% of your net losses back for 24 hours up to $1,000 in Casino Credits following opt-in. Taking down that $100,000 Ferrari is great but it comes with outstanding tax liabilities. Does my Draftkings 1099 report that I won $7000, or $2000? If you take home a net profit exceeding $600 for the year playing on websites such as DraftKings and FanDuel, the organizers have a legal obligation to send both you and the IRS a Form 1099-MISC. Withdrawing is quick. After the Supreme Court lifted a federal ban on sports betting in 2018, platforms like FanDuel, PointsBet, DraftKings, and Caesars Sportsbook (among others) exploded in popularity. The answer is yes, your cumulative net profit is taxed, and DraftKings is contractually required to send a 1099 tax form to any player that nets of $600. Rising. 6K. DraftKings provides a variety of contest types to play in for all nine sports. "Imagine that Venmo sends you a 1099-K for $25,000," she says. It doesn't include any adjustments for credits, refunds, discounts, or fees. Mile_High_Man • 3 yr. If you won $5,000 on DraftKings, but loss $3,000 on Fan Duel, you would report $5,000 in gambling winnings and $3,000 in gambling losses. If you strike lucky and you take home a net profit of $600 or more for the year playing in sportsbooks such as DraftKings, the operators have a legal duty to send both. "Although you only made a total of $25,00, the IRS receives two documents and believes. We would like to show you a description here but the site won’t allow us. The law, requiring payment platforms like PayPal to file Form 1099-Ks for anyone receiving over $600 (down form $20,000) threatened mass taxpayer confusion. A copy of the form is also sent to the IRS. ; Click Contact Support at the bottom of the page. As we’ve mentioned, you’ll get a 1099-K from PayPal if you earn at least $20,000 from them, in at least 200 separate sales. Besides, the entry fees range from $0. Soho, London. In Michigan, gambling winnings are subject to a 24% withholding for federal tax. Select a topic from the options above. After some doing research on my own, is it correct that I will be taxed on the gain of each individual win?. If you feel like you can make some big bucks from the NFL season, you may decide to place some big bets in the hope of turning a profit. We’ll go through the entire process step-by-step. That said, the actual amount you need to pay taxes on depends on your total income. Community run subreddit dedicated to Reignmakers fantasy sports game on Draftkings. Currently from a US tax reporting. We have fielded several questions regarding the issuance of 1099-K. highest paid nrl player in 2021;Dividends (Form 1099-DIV) Payment Card and Third Party Network Transactions (Form 1099-K) Patronage dividends, but only if at least half the payment is in money (Form 1099-PATR) Rents, profits, or other gains (Form 1099-MISC) Commissions, fees, or other payments for work you do as an independent contractor (Form 1099-NEC)I live in Ohio and received a 1099-misc from DRAFTKINGS, do i report this income as being paid to me from MA. The two brands operate as the undisputed leaders in the DFS market in the US. First, half the field wins a payout. If you claim the standard deduction, then you can't reduce your tax by your gambling losses. Maryland state taxes for gambling. Does draftkings send tax forms draftkings 1099 reddit Log into DraftKings. Draftkings was one of nine operators recently recommended for mobile licenses in new. If you’re paid through a third-party source, such as PayPal or Venmo, you’ll receive a 1099-K. Has anyone heard any updates on draftkings releasing the 1099 forms this year? I've read they usually ask for an extension but I have not seen any updates. Paolo Banchero PF B $7. 1099-K reporting changes . Player News AAC ACC Big Ten Big 12 Conf USA MAC Mountain West Pac-12 SEC Sun Belt FBS Independents. Suite 265. DraftKings Help Center (US) Contests, leagues, and how to play Fantasy Sports on DraftKings. Note that the Michigan law has changed on gambling. Both criteria must be met. $990 on another app to pay the same. I asked about this and DraftKings responded below: DraftKings has requested and received an extension of time from the IRS to mail its 1099-MISC recipient copies. The W9 is just information about you the player. Hoboken, NJ. Per the email you must fill it out to continue to play on draft kings. Easily download and print documents with US Legal Forms. If you made a profit, that will be the taxable amount. However, depending on the how your winnings are classified with the payer, you may receive Form 1099-MISC. We would like to show you a description here but the site won’t allow us. The best place to play daily fantasy sports for cash prizes. Click Live chat. discussion. Posted on. Player News AAC ACC Big Ten Big 12 Conf USA MAC Mountain West Pac-12 SEC Sun Belt FBS Independents. Has anyone heard any updates on draftkings releasing the 1099 forms this year? I've read they usually ask for an extension but I have not seen any. Both of these forms are informational and only are required to be issued when the activity meets a reporting threshold. It said a total of $11,000 goods and services even thought I never sold a a thing using paypal . Starters. FanDuel sent me a tax form just the other day, don’t use draftkings so I’m not sure how they go about it. Find out where it's legal and get started betting online today!Missed the exclusive drop? Don’t worry! The Minotaur 1099 NFT is available on the DraftKings Marketplace second hand market. DraftKings should do the same thing, but they seem to not be the greatest at doing IRS paperwork properly. Maryland law requires gambling companies to withhold 9. Wondering how should I handle this 1099 form for my taxes . Click Statements and Taxes near the top of the page. Betting on the DraftKings Sportsbook is currently only available in certain states. DraftKings FanDuel. Please help : r/dfsports. The federal reporting threshold for 2022 is total payments exceeding $20,000 for goods and services and more than 200 transactions, which means that you could expect. Whether you report it or not, you need to be sure you keep detailed records of the back and forth of that $42K. We would like to show you a description here but the site won’t allow us. DraftKings Sportsbook is an online sports betting platform from Draftkings. Long list of bad experiences with DraftKings. So I did an internet search on "1099 Gambling". generally the ratio of the winnings to the wager. Reply replyForm W-2G from DraftKings (just sharing) We will issue a W-2G form each time a player has a payout of $600 or more (no reduction for the wagered amount) and a return that is 300X the amount wagered. 15 Ingestre Place. We would like to show you a description here but the site won’t allow us. Gambling losses are indeed tax deductible, but only to the extent of your winnings and requires you to report all the money you win as taxable income on your return. New IRS rules make attempting that an even riskier prospect while you’re filing your income taxes for 2022. This FAQ covers frequent tax questions that we receive about our Online Sportsbook, Daily Fantasy, Faceoff, and Online Casino products, and the IRS-required “Tax Forms” associated with your play on our products. I recently deposited about $50 in DraftKings and have grown that amount to around $800 (mostly luck). Service 139. ) Verify your payment method. $100 deposit + $100 bonus X 10 = $2,000. ago Yes, you’ll only be taxed on winnings, and only if it’s $600+ at year end. This is where many Fantasy. Your federal net taxable income will only go up by 1k however. To understand how your Win/Loss Statement can be used during tax preparation, DraftKings suggests that you consult with a tax professional. It doesn't include any adjustments for credits, refunds, discounts, or fees. Click Download all to download and view both your Form 1099-K and your Goods and Services. Find your AGI. Learn how to report your winnings from online sports sites like DraftKings, FanDuel, and Bovada on your federal and state tax returns. Make your first deposit!The best place to put this 1099 is under ''other common income''. This is a hot topic, but I believe it is self reporting. My question is I was told from DK I will not receive a 1099 because I didn’t. The best place to play daily fantasy sports for cash prizes. My Account. If there are expenses, click on the line for Gambling Winnings. If the income is considered gambling winnings, it would not be taxable in Canada. Check out our louisiana sports betting page to learn more. DraftKings Optimizer FanDuel Optimizer. File back taxes. The amount of winnings should appear in Box 3, “Other income. You can report winnings from a 1099-MISC as “Other Income” on your tax return. dr mamadou diallo columbus ohio; is colton dunn related to james avery; can i mix pills in same container; mark richt wife cancer; duke hospital patient family housingWe would like to show you a description here but the site won’t allow us. At a glance: Report all gambling winnings as taxable income on your tax return. ️ Play in a public contest and against friends in a private league. This same information is sent to the IRS, so the IRS knows if you misreport or fail to report your winnings. We have fielded several questions regarding the issuance of 1099-K. do you have to pay taxes on draftkingsAppearance > Menus (619) Patriot (728-7468) magali brunelle lawyer; OPR No: 12689 | Trapper ID No: 64965. Later in the year, you have a cold streak playing in a fantasy baseball league and lose $15,000. $5,000 or. Lineup not released Projected Lineup. We use this number to verify important account changes. Don't have an account? apply. 8425 sepulveda blvd, north hills, ca 91343. A prior PayPal deposit to DraftKings from your individual PayPal account. From time to time, DraftKings may announce promotional giveaways, sweepstakes, contests, and other offers ("Promotions") for DraftKings Marketplace fans. Regarding gambling losses, such losses are indeed tax deductible, but only to the extent of your winnings and there is the requirement to report all the money you win as taxable income on your return. First Quarter 2023 Highlights. DoninGA. do you have to pay taxes on draftkingsAppearance > Menus (619) Patriot (728-7468) magali brunelle lawyer; OPR No: 12689 | Trapper ID No: 64965. Every time bettors lose a $1,100 bet, they lose $1,100. This, however, doesn’t mean that if you consistently win and fail to report your winnings the tax office wouldn’t notice. So because you haven't won $600+ on either individual site, neither of them are going to report your winnings to the IRS. Note: Many customer questions can be solved by reviewing articles available in the Help Center. What is Form 1099? If you received other prizes or promotional payouts totaling $600 or more from a platform like DraftKings or FanDuel, you might also receive. Also, you can use the DraftKings dollars to enter cash contests. We would like to show you a description here but the site won’t allow us. The PayPal account used for withdrawals must be in your name. If you itemize deductions, you can offset your winnings by deducting gambling losses. Two basic principles define a 50/50 (also called a double-up). A moneyline is simply the odds, as in “Odds to win” for an event with a winner and a loser. Learn more about draftkings michigan online casino. The income listed on this form should be included by the taxpayer as income on their Form 1040. Braxton Key PF B $3K. ”. DraftKings Optimizer FanDuel Optimizer Top DFS Plays. Easily download and print documents with US Legal Forms. The best place to play daily fantasy sports for cash prizes. On the Gambling. Gaming Deposits: $2500. Additional information: Please enter the details of your request. Casino Wagers: $0. PayPal withdrawal amount cannot exceed sixty thousand U. Crypto taxes. ”. Small business taxes. Kings Tack - get access to a huge library of legal forms. The IRS issued Notice 2023-10, delaying the implementation of the 1099-K reporting threshold and transaction limit change until 2023. For their PGA product they resemble a lot what DraftKings did at first, and have six golfer lineups to create while going under a salary cap. For taxation purposes Sportsbook and Casino users are required to provide their SSN for taxation purposes related to a reportable event . 25 to $5,000. Our $298 million in second quarter revenue represents a 297% increase year-over-year. To understand how your Win/Loss Statement can be used during tax preparation, DraftKings suggests that you consult with a tax professional.