A W2-G is generated for wagering transactions with payoffs of $600 or more if winnings are at least 300 times the ticket price, or $5000 or more with automatic 24% tax withholding. W2-G summary statements, summarizing reportable wagers and taxes, are mailed annually by January 31. Users can view or print W2-Gs and Win/Loss statements online via "Account History," but W2-Gs are not available on the iOS app.
When is a W2-G generated?
Please note we are required by law to report to the IRS on form W2-G all wagering transactions which:
- Return a payoff of $600 or more if the winnings are at least 300 times the ticket price.
- Return a payoff of $5000 or more if the winnings are at least 300 times the ticket price.
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- Payoffs meeting this second condition are automatically taxed by the Track at the standard rate of 24%.
W2-G Summary Statements:
- Summarizes all reportable wagers and taxes withheld (if applicable).
- Mailed annually by January 31st for the prior year.
To view or print your W2-Gs online:
- Select "Account History " from the dropdown menu after selecting the user icon
- Choose "tax documents"
- Select the year Individual reports will be available for view / download / print.
To view or print your Win/Loss Statement online:
- Select "Account History " from the dropdown menu after selecting the user icon
- From the calendars, choose "January 1" and "December 31" of the preferred year.
- Your profit and loss information will be on the right.
W2G information is not available on the IOS app.