Kickr taxes. What are they? Do you have to pay them? There’s a lot circulating online about the fact that this sweepstakes sportsbook charges taxes to use its service, but that’s far from accurate, as our detailed guide reveals.
Let us start by saying that Kickr does not charge taxes. But that’s not to say you won’t pay any tax while using this site, with the IRS potentially levying a fee on any sweepstakes prizes you claim on the site. Confused? Stick with us as we look at the process of paying taxes on sweepstakes gaming sites like Kickr.
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Do you have to pay taxes on Kickr?
Yes, you may have to. That might come as a surprise to some people, but the truth is that the IRS will want a cut of whatever real money prizes you receive when redeeming “Kickr Bucks” at the Kickr social sportsbook and casino.
At this point, it’s important to mention that it’s the federal taxman who will want a cut of any sweepstakes prize redemptions you make on sites like Kickr. Any cash accrued through promotional online sweepstakes is deemed taxable income in the eyes of the IRS, so you’ll need to pay your dues to avoid potential penalties in the future. For further information on redemptions, be sure to read the
Kickr withdrawal
review.
So,
does Kickr charge taxes?
To round off this section, then, Kickr taxes
are not
levied by the brand, but by the IRS. Indeed, paying this levy isn’t unique to Kickr members; anyone collecting cash through online sweepstakes is liable to pay tax, so this is certainly something to consider before looking into how to convert
Kickr coins
and other similar sweepstakes tokens.
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How to pay
Kickr taxes: Tips and tricks that could help
If you want to exchange Kickr Bucks for cash prizes, paying tax to the IRS is something you have to live with. But how exactly do you go about paying these sweepstakes gaming levies? And is there a way to avoid them?
We’ll answer the latter question first. Because while you will pay tax on sweepstakes redemptions at Kickr, you won’t if you stick to using Kickr Bits rather than Bucks.
You see, Kickr Bits are the fun-only play tokens at Kickr; you can use these to make legit sports predictions, but you won’t be able to exchange Bits for prizes as you would with Bucks. And that’s the main point of difference to remember: if you don’t want to pay taxes while placing bets at Kickr, you’ll have to forego the possibility of prize redemptions by making sports picks using fun-only Kickr Bits instead of redeemable Kickr Bucks.
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Are you prepared to pay a small fee for the possibility of exchanging your Kickr Bucks for real prizes? Here are a few tips on the process:
- Step 1:
Track your sweepstakes prize redemptions at Kickr, as you’ll need to pay a small amount of tax to the IRS each time you claim prizes on the site. That includes a tax on cash
and
gift cards.
- Step 2:
You’ll need to notify the IRS if you claim sweepstakes prizes at Kickr, as any rewards are classed as taxable income. There are a couple of different tax documents you’ll need to file depending on how much cash you’re declaring.
- Step 3:
File the required documentation and pay any federal taxes owed. The IRS will be in touch with the exact amount you need to pay, based on how much you’ve declared in Kickr taxes.
| Prize redemptions value | Type of reporting |
| Under $600 | “Other Income” on Line 8 of IRS Form 1040 |
| Over $600 | Bettors need to fill in a W-2G form |
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Pros and cons of using Kickr
With confirmation that you may need to pay some tax at Kickr, here are some of the pros and cons to expect by becoming a member – just to assure you that it’s still worth your time.
- Make predictions on real sports
- Access hundreds of Vegas-style social games
- Exchange Kickr Bucks for real prizes including cash and gift cards
- You may owe tax on Kickr sweepstakes prizes
Do you pay taxes on Kickr?
Paying taxes on a free sweepstakes gaming site like Kickr sounds ridiculous. But if you use redeemable sweepstakes coins to claim cash prizes, you may owe the IRS a small portion of the total bankable sum.
We’re guessing that many people reading this will be surprised by the news that Kickr taxes are, in fact, a thing. It’s evident from our experience of the sweepstakes gaming industry in the USA that many players don’t realize that taxes are owed on sweepstakes prizes, with the IRS deeming both cash and gift card redemptions as taxable income.
We hope this guide has cleared up any confusion you may have had about taxes, charges, and other fees when using Kickr. If you have other queries relating to this awesome sweepstakes sportsbook – like “knowing the
Kickr legal states“, for example – then don’t forget to check out our full brand review for more details.
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Kickr taxes
FAQs
💰 Do I have to pay tax on sweepstakes sportsbooks like Kickr?
If you redeem sweepstakes prizes at a site like Kickr, you may need to pay tax to the IRS, as any cash prizes or gift cards are classed as taxable income. You must also meet the
Kickr age
requirements to be eligible for redemption.
🎉 Do you have to pay to use Kickr?
No, Kickr is 100% free to use with no deposit or payments necessary. Since Kickr is a sweepstakes sportsbook and casino, it operates on a strict no-purchase-necessary basis, although you can make optional purchases on the site if you wish.
❌ Do you have to pay taxes if you don’t redeem sweepstakes prizes at Kickr?
No. You may need to pay tax to the IRS if you claim sweepstakes prizes, but if you’re happy to play just for fun, no such taxes will apply as you would not make use of possible prize redemptions.
