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Certificate of Status of Beneficial Owner for. United States Tax Withholding and Reporting (Entities) ▶ For use by entities. Individuals must use Form W-8BEN. ▶ Section references are to the Internal Revenue Code.
Your winnings and any tax withheld may be reported on W-2G, depending on the amount you won and the type of gambling, but the full amount is taxable regardless of whether you receive a W-2G. You may deduct gambling losses up to the amount of your gambling winnings, but you must list all of your winnings on Line 8.
It is taxed at 30%, unless a tax treaty specifies otherwise. There are a few types of income that arent subject to tax withholding. This may include: Interests, dividends, rent, or royalties earned from foreign sources.
If you are a certified resident of Canada, a W-8BEN form allows you to make a claim (a tax treaty benefit) for a reduction on the tax withheld from U.S. income you may receive in your account. This covers dividends from U.S. companies or interest income from U.S. fixed-income investments.
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