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  • precator

    Does Fanduel send tax statements through email? Would obviously prefer that way due to my wife opening regular mail :) If they don’t, can this be requested?

  • emac

    I suspect they will be mailed.

    You could always try support@fanduel.com

  • theoddsmaker

    Precator is smart and knows his wife is gonna want a new pair of shoes with that $$$

    My one word of advice is to not pull a me and go on a personal record setting heater on the last 2 days of the calendar year. Oh and if one of the smaller sites you are just a tad over $600 in profit on the year, keep in mind that if you get that down to $599 or less you won’t be taxed on it

  • horby

    @theoddsmaker said...

    Precator is smart and knows his wife is gonna want a new pair of shoes with that $$$

    My one word of advice is to not pull a me and go on a personal record setting heater on the last 2 days of the calendar year. Oh and if one of the smaller sites you are just a tad over $600 in profit on the year, keep in mind that if you get that down to $599 or less you won’t be taxed on it

    In before someone says you are still required to pay taxes on that.

    To OP. I have no advice for you but as someone whose wife does not know the extent of his DFS life…I understand! I bet you have a lot of emergency 7PM bathroom breaks during NBA season don’t you?

  • precator

    My wife must think I have irritable bowel syndrome with all my trips to the bathroom at 6:56… Lol

  • baseballoc

    Does Fanduel send them out to everyone who has over $600 in profits or do you need to request one?

  • precator

    Also still looking in how they send them.. Would MUCH prefer to receive them via email for “wife” purposes..

  • stlcardinals84

    Leading RG Analyst

    • 2018 DraftKings FBWC Finalist

    • 2018 DraftKings FBBWC Finalist

    @theoddsmaker said...

    Oh and if one of the smaller sites you are just a tad over $600 in profit on the year, keep in mind that if you get that down to $599 or less you won’t be taxed on it

    Please keep in mind that you will not receive an IRS tax form for this, but you should still report the profit on your tax return, even if the profit is less than $600 and you do not receive a 1099.

    Earning $500 instead of $600 does not relieve you of your duty to report this income on your taxes.

  • baseballoc

    Gotcha and good point, but just to make sure the sites will send a 1099 form, you don’t need to find/request one

  • emac

    @baseballoc said...

    Gotcha and good point, but just to make sure the sites will send a 1099 form, you don’t need to find/request one

    Yes, if your net profit for the calendar year on one site is $600 or more, they will issue a 1099 automatically.

    If your net profit is between $1 and $600 then it is up to you to report the income, even though there is not a 1099 generated.

  • Pennywize69

    @precator I thought I was the only one lol

  • IronMonkey415

    Where on Fan Duel can I change my address? Pretty sure they still have old address on there.
    I check under MY ACCOUNT but don’t see any address setting.

  • shockermandan

    • Moderator

    This whole thread is awesome.

    I’m sure Fanduel will mail the statements, and may also make them available electronically.

    My wife uses the “You spend money on Fanduel so I can buy X” excuse. I’m excited for my 1099 to come in the mail so I can definitively prove to her that I don’t spend money on Fanduel.

  • precator

    If I don’t withdraw any money, would they still give me a 1099? I think not because thats the way stocks work. Also, I never gave them my address,etc. Anyone have any more insight?

  • emac

    @precator said...

    If I don’t withdraw any money, would they still give me a 1099? I think not because thats the way stocks work. Also, I never gave them my address,etc. Anyone have any more insight?

    Hi Precator,

    Yes, the 1099 will generate regardless of whether or not you make a withdrawal.

    Also, while the site may not be able to find an accurate address for you, they will still be sending the IRS their copy of the 1099 and if your filing does not match the IRS filing…that is a potential audit trigger.

  • PJGuin23

    DFS Tax Guru

    @precator said...

    If I don’t withdraw any money, would they still give me a 1099? I think not because thats the way stocks work. Also, I never gave them my address,etc. Anyone have any more insight?

    Constructive receipt of income is taxable whether it is withdrawn or not. If you had the capability of withdrawing it in 2015, it is taxable in 2015. It’s what is EARNED not withdrawn. Hope that makes sense.

  • precator

    @emac said...

    Hi Precator,

    Yes, the 1099 will generate regardless of whether or not you make a withdrawal.

    Also, while the site may not be able to find an accurate address for you, they will still be sending the IRS their copy of the 1099 and if your filing does not match the IRS filing…that is a potential audit trigger.

    I don’t mind getting a 1099 or paying taxes on my income, I will do gladly! I just don’t want a 1099 mailed to my home and my wife hangs me by my testicles for playing DFS! For the love of God I hope they can email it instead of mail :)

  • pmsimkins

    • 2014 FanDuel WFBC Finalist

    • 2015 FanDuel WFBBC Finalist

    @precator said...

    Also still looking in how they send them.. Would MUCH prefer to receive them via email for “wife” purposes..

    So you’re saying you spend profits on hookers and blow?

  • Olhausen

    @precator said...

    I don’t mind getting a 1099 or paying taxes on my income, I will do gladly! I just don’t want a 1099 mailed to my home and my wife hangs me by my testicles for playing DFS! For the love of God I hope they can email it instead of mail :)

    My wife would be shown the door if she had a problem with me playing Dfs. I’m joking of course and I love my wife. But she could give two shits that I play Dfs and actually loves when I have sweats cause I’m extra happy. I didn’t realize so many people’s wives got mad at them for Dfs until I started seeing it in these threads. I guess I should thank my lucky stars my wife doesn’t mind it.

  • PJGuin23

    DFS Tax Guru

    @Olhausen said...

    My wife would be shown the door if she had a problem with me playing Dfs. I’m joking of course and I love my wife. But she could could give two shits that I play Dfs and actually loves when I have sweats cause I’m extra happy. I didn’t realize so many people’s wives got mad at them for Dfs until I started seeing it in these threads. I guess I should thank my lucky stars my wife doesn’t mind it.

    I’m somewhere between you and the guy having to hide a 1099. Some of us will have wife’s 110% supportive. Others will need an attorney once their wives find out. I was told I have to limit looking at my phone during games and so long as I’m not breaking the bank losing, it’s good. Shit, if I get a 1099, my wife would be happy. But I often have to do research during work breaks and on the can soooo… At least she’s coming to DFSPC Saturday night so I’ll have to check out of the party that night.

  • Olhausen

    @PJGuin23 said...

    I’m somewhere between you and the guy having to hide a 1099. Some of us will have wife’s 110% supportive. Others will need an attorney once their wives find out. I was told I have to limit looking at my phone during games and so long as I’m not breaking the bank losing, it’s good. Shit, if I get a 1099, my wife would be happy. But I often have to do research during work breaks and on the can soooo… At least she’s coming to DFSPC Saturday night so I’ll have to check out of the party that night.

    Oh if I was losing money that would be a different story. At first she would ask a few times if I really didn’t deposit anymore of my own money. I only put 25$ in and haven’t looked back so it makes it easier. And when she started seeing sweats for thousands of dollars she really liked it. She does tell me she doesn’t know how I can deal with sweats when they don’t work out. You know the ones where you almost win 10k but end up with 90$ lol.

  • MARJAC

    • 2015 FanDuel CFB Playboy Mansion Finalist

    @precator said...

    I don’t mind getting a 1099 or paying taxes on my income, I will do gladly! I just don’t want a 1099 mailed to my home and my wife hangs me by my testicles for playing DFS! For the love of God I hope they can email it instead of mail :)

    Last year my 1099 was emailed. No problem whatsoever. Rest at ease my friend, despite what appears to be a two front war with your wife on one side, and my mortal enemy, the IRS, on the other

  • precator

    @MARJAC said...

    Last year my 1099 was emailed. No problem whatsoever. Rest at ease my friend, despite what appears to be a two front war with your wife on one side, and my mortal enemy, the IRS, on the other

    Sweet so no physical mailed statement?

  • PJGuin23

    DFS Tax Guru

    @Olhausen said...

    Oh if I was losing money that would be a different story. At first she would ask a few times if I really didn’t deposit anymore of my own money. I only put 25$ in and haven’t looked back so it makes it easier. And when she started seeing sweats for thousands of dollars she really liked it. She does tell me she doesn’t know how I can deal with sweats when they don’t work out. You know the ones where you almost win 10k but end up with 90$ lol.

    Her biggest issue is more the time than the money. I have a tendency to look at my phone when I’m watching our now mobile 10 month old daughter and she gets fussy when I’m not watching her. And I get reminded how being a father is a constant job, etc.

  • OneShotKill17

    My wife doesn’t have an issues with my playing but also asked that I not tell her how much I play on a given night/weekend. I only play GPPs and she can’t handle swings very well!

  • hughes425

    If you are hiding things like a 1099 from your wife you have bigger issues than a tax audit imo

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