How are gaming revenue distributions, including per capita payments, reported when the recipient is a minor?
A:
Gaming revenue distributions, including per capita payments, are taxable in the year of distribution regardless of whether the recipient is a minor, unless placed into a qualifying deferral...
AdGet Your IRSTaxes Done Right And Your Biggest Tax Refund, Guaranteed w/ TurboTax®. IRSTaxes Can Be Complex. Let TurboTax® Find Every Deduction To Maximize Your Refund.
Forward-Looking Features And Comprehensive Design – NerdWallet
AdDon't Wait, Start a 1-on-1 Accountant Chat Online Right Now. There's No Waiting or Hassle. Whatever the Problem, a Verified Tax Pro Can Solve It for You in Just Minutes Online.