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Message: [QUOTE="EagleCarver, post: 5377524, member: 368267"] Let's just say that everything I'm about to say is just a hypothetical or that I'm asking for a friend;). Imagine that I've won over the threshold amount of 5k in gambling winnings and that I'm an American citizen. The IRS requires such an individual to pay taxes on those winnings but what I've noticed is that there are multiple options on how to file those taxes, such as self-employment, which I believe reduces the amount you have to pay from 24% to 15%. With that being said, what is the best way to minimize the amount of taxes you have to pay on winnings? Secondly, let's say I won that amount in a country where you don't have to pay taxes on your gambling winnings such as the UK which also has a unique tax treaty with the US. Would being a resident or citizen of that country (whilst also being an American) make you exempt from paying taxes on gambling wins? :hmmmm2: [/QUOTE]