BMW winner on the Dream this past week! (No, not me :(, but still cool)

We were in the casino when a Lucky Lady hit the winning combo for the BMW on the last night of the cruise.

The last time I saw her, she was trying to decide if she was taking the car or the $$.

So, yes, it can happen!

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She'd do well to take the cash and avoid the 35% Federal luxury tax!

She'd do well to take the cash and avoid the 35% Federal luxury tax!

If you win when you're not in U.S. Territory, do you still have to pay tax?

Normally (at least what I have heard) is that most folks that win a car or something else big have have to sell it to cover the tax bill, sure would be nice not to have to do that.

Yes you do. If you win more then $500 I believe is the limit you get a tax form and Carnival is required to report it. Sorry...

If it has a value of $1,200 or more - 1099. $1,199 or less no 1099. At least this is the way it is in Las Vegas.

Yes you do. If you win more then $500 I believe is the limit you get a tax form and Carnival is required to report it. Sorry...

I won a $1000 on the victory bingo didn't had to pay taxes..

On any winnings $1200 or more you will have to pay taxes. Doesn't matter if you are out to sea or not. I won $2750 and got a 1099 delivered to my cabin on the last night of the cruise.

If you are not from the U.S. do you have to pay this tax?

We were in the casino when a Lucky Lady hit the winning combo for the BMW on the last night of the cruise.

 

The last time I saw her, she was trying to decide if she was taking the car or the $$.

 

So, yes, it can happen!

 

 

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Wow, I'm glad to hear this. I was convinced Carnival never gave away the car (or cash equivalent).

I too, was aboard "Dream" last week, and early in the cruise was told by a MAJOR officer aboard, that on the two prior cruises, someone had hit for the BMW. That makes three weeks in a row if what I was told was true, and I highly trust my source! :eek: Guess I should have spent a bit more time, and money in the casino last week. ;)

"SKY"

could you accidently write the incorrect info on your 1099? or does Carnival verify? I've never been fortunate to win over $500.

If you are not from the U.S. do you have to pay this tax?

What the other posters are saying is "You would pay this tax on your tax return", so if not a US resident (US citizens and people who reside in the US), then you would probably not be required to pay tax in the US on this if you are in international waters (and the casino is not open in US waters anyway).

The reason the US people get this form is that US citizens/residents are taxed on their world-wide income. This is unlike many other countries where you are only taxed on income earned in the country that you reside in. Many of these countries also have exemptions for gambling winnings (unless you are a professional gambler). Typical reason is that it is a fortuitous gain on a game of chance, in comparison to a professional gambler who actually pursues a business or trade in gambling operations (and who would be taxed on revenue and granted deductions for losses).

could you accidently write the incorrect info on your 1099? or does Carnival verify? I've never been fortunate to win over $500.

I would think that the cruise line would put your name and address onto the document, and they do have other details such as your phone number, passport number etc on file too if the IRS queries.