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Document Retention: The 800 lb. Gorilla MICHAEL ALZHEIMER EMPLOYMENT SECTION COOPER REED & McGraw, P.C. JASON RODRIGUEZ IT MANAGER COOPER REED & McGraw, P.C. This booklet is for informational purposes
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What is form 800 lb?
Form 800 lb is used by certain taxpayers to report income from gambling winnings.
Who is required to file form 800 lb?
Individuals who receive gambling winnings above a certain threshold are required to file form 800 lb.
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Form 800 lb requires taxpayers to report their gambling winnings separately from their other income on their tax return.
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Form 800 lb helps the IRS track and tax gambling winnings accurately.
What information must be reported on form 800 lb?
Taxpayers must report the type of gambling winnings received and the amount of those winnings.
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