MGM tax information for a given year is delivered through two main channels: paper forms mailed to the address on file and digital copies available through MGM’s online portals. Most documents post by January 31. Which forms you receive depends on how you interacted with MGM during the year — as a casino guest with a reportable jackpot, a BetMGM online player, a paid contractor, or a shareholder holding stock through a brokerage.
Where to Find Your MGM Tax Forms
MGM must send tax forms by January 31 following the year of the income. If you had a reportable win at an MGM property, a paper Form W-2G is mailed to the address on file. You can also request a digital summary of W-2G and 1042-S forms issued to you through the MGM Rewards reporting portal at mgmrewards.com/reportingform.1MGM Resorts. Tax Information and Win/Loss-Related Resources
MGM Rewards members can also pull a win/loss statement by logging into their account at mgmresorts.com/account/win-loss/. It tracks your carded play over the year and is useful for documenting losses, but MGM labels it as not an official tax document.1MGM Resorts. Tax Information and Win/Loss-Related Resources You still need the actual W-2Gs and your own records to file correctly.
BetMGM users get their tax documents through the BetMGM app or website rather than the MGM Rewards portal. The same W-2G thresholds apply to online wins. Look under the tax documents section of your BetMGM account after January 31.
Shareholders receive nothing directly from MGM. The 1099-DIV and 1099-B forms come from your brokerage, usually by mid-February.
W-2G Thresholds for 2026
When a payout at an MGM casino crosses a set threshold, the cage generates a Form W-2G and hands you a copy before you leave.2Internal Revenue Service. About Form W-2 G, Certain Gambling Winnings A second copy goes to the IRS. Thresholds vary by game type, and they changed for 2026.
Starting January 1, 2026, the minimum reporting threshold for W-2G increased to $2,000, adjusted annually for inflation going forward. That raised the floor for slots, bingo, and keno.3Internal Revenue Service. Instructions for Forms W-2G and 5754 The current triggers:
- Slot machines and bingo: $2,000 or more (up from $1,200)
- Keno: $2,000 or more after subtracting the wager (up from $1,500)
- Poker tournaments: $5,000 or more after subtracting the buy-in (unchanged)
- Sweepstakes, wagering pools, and lotteries: $5,000 or more, and at least 300 times the wager (unchanged)
Sweepstakes, wagering pool, and lottery winnings above $5,000 (net of wager) also trigger mandatory federal withholding at 24%.3Internal Revenue Service. Instructions for Forms W-2G and 5754 If you don’t provide your Social Security number at a reportable win, the casino applies backup withholding at 24%.
Non-cash prizes like cars or vacation packages appear on your W-2G at their fair market value as determined by the casino at the time of the award. You owe tax on that full value.
You may receive multiple W-2Gs from different MGM properties or different wins at the same one. Each is reported separately.
Reporting Gambling Winnings on Your Return
All gambling winnings are taxable, whether or not a W-2G is issued. The higher 2026 threshold changes only whether MGM files paperwork, not what you owe. A $1,900 slot jackpot won’t generate a W-2G, but it’s still reportable.4Internal Revenue Service. Topic No. 419, Gambling Income and Losses
Gambling income goes on Line 8b of Schedule 1 (Form 1040) as gross winnings, before any offset for losses.5Internal Revenue Service. Form 1040 Schedule 1 – Additional Income and Adjustments to Income The IRS receives every W-2G issued to you, so a total that doesn’t match their copies invites a notice.
Deducting Gambling Losses
Losses can offset winnings, but the deduction comes with several restrictions.
The New 90% Cap
For tax years beginning in 2026, the gambling loss deduction is capped at 90% of your actual losses. Even when losses match or exceed winnings, only nine-tenths are deductible. Win $10,000 and lose $10,000 the same year, and your maximum deduction is $9,000, leaving $1,000 taxable despite a break-even year. The change was enacted through amendments to Section 165(d) of the Internal Revenue Code.
You Have to Itemize
Losses only help if you itemize on Schedule A instead of taking the standard deduction.4Internal Revenue Service. Topic No. 419, Gambling Income and Losses For 2026, the standard deduction is $16,100 single, $32,200 married filing jointly, and $24,150 head of household.6Internal Revenue Service. IRS Releases Tax Inflation Adjustments for Tax Year 2026 If your itemized total, including gambling losses, mortgage interest, charitable gifts, and state taxes, doesn’t beat those numbers, the standard deduction wins and your losses produce no tax benefit.
Losses belong in the “Other Itemized Deductions” section of Schedule A.7Internal Revenue Service. Publication 529 – Miscellaneous Deductions You can’t net winnings and losses and report only the difference: gross winnings go on Schedule 1, losses go on Schedule A.
Records That Hold Up in an Audit
Claiming losses without documentation is where most gamblers get in trouble. The IRS expects a contemporaneous log — a record kept at or near the time of each session — with dates, locations, games played, and amounts won or lost. Supporting records like W-2Gs, ATM withdrawal slips from casino floors, and credit card statements strengthen the case.
Your MGM Rewards card is one of the best tools you have. Because it tracks play electronically, the win/loss statement MGM generates from that data corroborates your own log. It isn’t a substitute, but auditors treat it as credible third-party evidence of the scope of your play.7Internal Revenue Service. Publication 529 – Miscellaneous Deductions
Professional Gamblers
A small number of taxpayers qualify as professionals and report on Schedule C. They can deduct gambling losses along with related business expenses such as travel and subscriptions, but beginning in 2026 those business expenses fall under the same 90% cap and the ceiling of total winnings. A professional can no longer generate a net Schedule C loss from gambling activity to offset other income.
1099 Income From MGM
When MGM pays you for something other than a gambling win — freelance work, entertainment services, promotional appearances, or rent — the payment is reported on a 1099 rather than a W-2G. The general threshold is $600 or more in a calendar year.8Internal Revenue Service. About Form 1099-MISC, Miscellaneous Information
Payments to independent contractors, consultants, and performers land on Form 1099-NEC.9Internal Revenue Service. About Form 1099-NEC, Nonemployee Compensation Income reported this way is subject to self-employment tax on top of regular income tax and gets reported on Schedule C.
Rent and non-gambling prizes and awards come on Form 1099-MISC instead.10Internal Revenue Service. Form 1099-MISC – Miscellaneous Information The distinction matters: 1099-MISC income generally doesn’t trigger self-employment tax unless it comes from a trade or business you operate.
If You’re a Nonresident Alien
Nonresident aliens face a flat 30% federal withholding on gambling income at MGM, taken directly from the payout.11Internal Revenue Service. Publication 515 – Withholding of Tax on Nonresident Aliens and Foreign Entities The casino reports the withholding on Form 1042-S rather than W-2G.12Internal Revenue Service. FAQs for Indian Tribal Governments Regarding Nonresident Alien Gambling Winnings
There is a significant carve-out for certain table games. Winnings from blackjack, baccarat, craps, roulette, and big-6 wheel are exempt from the 30% withholding and from reporting requirements for nonresident aliens.11Internal Revenue Service. Publication 515 – Withholding of Tax on Nonresident Aliens and Foreign Entities Slot machines, poker tournaments, and sports bets are not covered.
If your home country has an income tax treaty with the United States that covers gambling income, a reduced rate or full exemption may apply. To claim it, provide the casino with a completed Form W-8BEN before the payout.13Internal Revenue Service. Instructions for Form W-8BEN Not every treaty covers gambling. If you were withheld at 30% and think you qualify for a lower rate, file Form 1040-NR to claim a refund.
Shareholder Forms: 1099-DIV and 1099-B
If you own MGM Resorts International stock, tax forms come from your brokerage. The two documents are Form 1099-DIV for dividends and Form 1099-B for sales.14Internal Revenue Service. About Form 1099-DIV, Dividends and Distributions
Form 1099-DIV separates ordinary dividends (Box 1a, taxed at your regular rate) from qualified dividends, which get the lower long-term capital gains rates when the holding period is met.
Sales appear on Form 1099-B with sale date, gross proceeds, and cost basis.15Internal Revenue Service. About Form 1099-B, Proceeds From Broker and Barter Exchange Transactions For shares purchased after 2011, the broker tracks basis. For older shares, that’s on you. The gain or loss goes on Form 8949 and carries to Schedule D.16Internal Revenue Service. About Form 8949, Sales and Other Dispositions of Capital Assets If you sell at a loss and repurchase within 30 days, the wash sale rule disallows the loss and adds it to the basis of the replacement shares. Any wash sale adjustment on your 1099-B needs to carry through to your return, or you’ll overstate deductible losses.
If a Form Is Missing or Wrong
If January 31 passes without a W-2G you were expecting, contact MGM Player Services or request a copy through the MGM Rewards reporting portal. For 1099s tied to non-gambling income, go to MGM’s corporate tax department. Before calling, confirm the address and Social Security number on file are current. Wrong contact information is the most common reason forms don’t arrive.
If a corrected W-2G shows up, or you find unreported gambling income after filing, amend using Form 1040-X, which can be filed electronically.17Internal Revenue Service. Instructions for Form 1040-X The IRS generally has three years from the later of your filing date or the deadline to audit, so keep gambling records at least that long. Longer is smarter after a big year.
Even when a form never arrives, the income is still taxable. The IRS gets its copy directly from MGM, and a mismatch is one of the fastest ways to draw a notice.