Just wanted to warn people about FanDuel’s accounting after getting stuck with a 1099 that’s $1500 more than I profited.
In 2020 I turned $102 into $1500 worth of contest tickets. I then won $2,100 in contests using these tickets. So I turned $102 into $2,100 for a profit of $1,998 right? After all, my account balance went from $102 to $2,100.
Well not according to FanDuel. They claim that my winnings were $1500 + $2100 for a profit of $3,498.
I’ve explained to numerous support people that their accounting is incorrect, but they refuse to listen.