Keerock

FanDuel 1099

3 posts in this topic

Received my 1099 from FanDuel and they included $680 worth of "Bonuses/Credits".  WTMF?  I never got anywhere NEAR that much in terms of FDP or any such...  Here's the response I got from FanDuel support:

Thanks for your patience. FanDuel will provide 1099 form to those who have accumulated net earnings from SETTLED contests valued at $600 or more on the calendar year - January 1st through December 31st.

I've provided a breakdown of how the team arrived at your Net Earnings total to be reported on your 1099 form.

[Winnings - Entry Fees + Bonuses/Credits = Net Earnings]

Winnings = $10,419.00
Entry Fees = $8,163.00
Bonuses/Credits = $680.00
________________________________
Net Earnings = $2,936.00

Keep in mind that the value of any tickets to future contests that are won ($12.00 in your case) are accounted for in the Winnings number and then accounted for in the Entry Fee value as well. 

Bonus/Credits include courtesy credits, deposit bonus earned, FDP entries, referral earnings, marketing promo prizes, and manually credited winnings (ie. from a marketing event and/or a satellite tie).

BS

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$8163.00 in entry fees is $340.125 in FD points, assuming no bonus points in any contests. Have you referred anyone and gotten kickbacks? How about deposit bonuses? Those are the only other ways I'm familiar w/ that you would accumulate bonuses/credits. Mine looked generally accurate, FWIW. 

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I #####ed enough that they adjusted my 1099 to $2,306 :thumbup:

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