How do I get my W9 from DraftKings?

To request electronic tax forms via Sportsbook or Casino apps:

  1. Log into the DraftKings Sportsbook or Casino app.
  2. Tap your profile photo in the top left corner.
  3. Tap Financial Center.
  4. Below Tax Center, tap Fill out W9.
  5. Below Name and mailing address tap the box next to Only issue me electronic tax forms.

Will DraftKings send me a 1099?

If you have greater than $600 of net earnings during a calendar year, you can expect to receive an IRS Form 1099-Misc from DraftKings no later than February 28th. This form will include all net earnings from the prior calendar year.

Does DraftKings issue tax forms?

If you qualify to receive tax forms from DraftKings (IRS Forms 1099/W-2G), you can access the information directly from the Document Center. You can expect to receive your tax forms no later than February 28.

Do I need to report DraftKings on taxes?

Winnings From Online Sports Sites Are Taxable If you win money betting on sports from sites like DraftKings, FanDuel, or Bovada, it is also taxable income. Those sites should also send both you and the IRS a tax form if your winnings are $600 or more.

Do I need a w9 from DraftKings?

DraftKings customers are required to fill out an IRS Form W-9 following a reportable win.

Do I need to fill out w9 for DraftKings?

Hello, our compliance and identity verification requirements require DraftKings players to complete a W-9 form annually. Unfortunately, if you do not complete the W-9 form your account may be restricted, and you will not be permitted to participate in DraftKings contests until your W-9 has been completed.

Do I need to fill out a w9 for DraftKings?

How do taxes work with DraftKings Sportsbook?

Sports betting winnings of over $600 (or if the amount is 300 times the original bet) are subject to a 24% withholding rate tax. Those taxes can come either at the time the winnings are paid out in the form of withholding from the casinos or sportsbooks, or when you file your taxes.

How much tax do I pay on DraftKings winnings?

24%
Generally, if you win more than $5,000 on a wager and the payout is at least 300 times the amount of your bet, the IRS requires the payer to withhold 24% of your winnings for income taxes.

Do I have to fill out a w9 for DraftKings?

How do I report winnings from DraftKings taxes?

You must report all income earned from fantasy sports either as “other income” on Schedule 1 for Form 1040, or as business income on Schedule C. If you use the first approach, your fantasy sports is considered a hobby and you can’t deduct any of your expenses or losses.

How much can you withdraw from DraftKings without being taxed?

While all winnings must be reported to the IRS, you only have to pay federal taxes on them if you made over $600.