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SportyBet Ltd has gone to court accusing the Kenya Revenue Authority (KRA) of hurting its operations by freezing its accounts in six banks and Safaricom pay bill numbers over claims of unpaid tax amounting to Sh5 billion.A Heinz is a full-cover multiple bet on six selections. It is made up of 57 bets - 15 Doubles, 20 Trebles, 15 Fourfolds, 6 Fivefolds and 1 Sixfold.
SportyBet Ltd has gone to court accusing the Kenya Revenue Authority (KRA) of hurting its operations by freezing its accounts in six banks and Safaricom pay bill numbers over claims of unpaid tax amounting to Sh5 billion.
A Heinz is a full-cover multiple bet on six selections. It is made up of 57 bets - 15 Doubles, 20 Trebles, 15 Fourfolds, 6 Fivefolds and 1 Sixfold.
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Regardless of the tax form you receive, as an individual you must report gambling winnings (including sports bets) on your Form 1040, Schedule 1, Line 8, under Other Income. Remember: This is any and all winnings. You can only deduct losses if you itemize your taxes. The same is true of up-front money that you stake.
Yes, winnings from Stake.us may be considered taxable income. For this reason, you need to report any winnings so that you can pay taxes on winnings at Stake.us.