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TagsHow can I report online gambling income for tax purposes in Michigan?
abdelrahman fouadJan 12, 2022 · 3 years ago3 answersI recently earned some income from online gambling in Michigan. How should I report this income for tax purposes? What are the specific rules and regulations I need to follow?
3 answers
- To report online gambling income for tax purposes in Michigan, you need to keep detailed records of your gambling activities, determine your tax liability, report your net winnings on your federal and state tax returns, and consider deducting your losses. If you're unsure, seek professional advice.Jan 12, 2022 · 3 years ago
- To report online gambling income for tax purposes in Michigan, keep detailed records, determine your tax liability, understand state-specific rules, consider deducting losses, and seek professional help if needed.Jan 12, 2022 · 3 years ago
- To report online gambling income for tax purposes in Michigan, keep accurate records, determine your tax liability, understand state-specific regulations, consider deducting losses, and seek professional advice if needed.Jan 12, 2022 · 3 years ago
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