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The Golf Channel Amateur Tour

Want2PlayMore

By Want2PlayMore,
in Golf Talk

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Note: This thread is 3339 days old. We appreciate that you found this thread instead of starting a new one, but if you plan to post here please make sure it's still relevant. If not, please start a new topic. Thank you!

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ScottyDawg Newbie

ScottyDawg

I guess if it was cash I could see it, but it's not. Especially if you're entry fees fare exceed the money you won.

Exactly.......and then you pay taxes when you spend that card. Yet the Golf Channel pays zero tax...profits off it and sends you a 1099.

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castlerockmo
castlerockmo

Im going to raise this thread from the dead! Im thinking about joining the am tour. I read all the post looks like most everyone enjoys it. Big reason I want to is there are a few tournaments around

Golfingdad Incredible Member

Golfingdad

I would try and agree with you if it was a one time winning of $1500.00.

But receiving gift cards over a period of 10 tournaments for $200 here and another $150 at another tournament and so forth should not be subject to a 1099. If it was all won in one tournament...maybe but not over the course of the whole year.

Exactly.......and then you pay taxes when you spend that card. Yet the Golf Channel pays zero tax...profits off it and sends you a 1099.

I, admittedly, know very little about taxes.  Are you saying that the tour is not required by the government to send out these 1099s but they do it of their own accord?  And as a follow-up; what do they gain from that?

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ScottyDawg Newbie

ScottyDawg

I, admittedly, know very little about taxes.  Are you saying that the tour is not required by the government to send out these 1099s but they do it of their own accord?  And as a follow-up; what do they gain from that?

I will find out Friday nite the purpose of them issuing a 1099 for winnings over $1500.00 as I'm playing in a tournament. I would think the Government is the reasoning but the point i'm making is why should I have to pay taxes on winnings when it was for only $250 here and there that totaled over $1500 for the year. On a gift card that I pay taxes when I redeem them. They don't gain anything from sending a 1099...

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Lihu Incredible Member

Lihu

Quote:

Originally Posted by Golfingdad

I, admittedly, know very little about taxes.  Are you saying that the tour is not required by the government to send out these 1099s but they do it of their own accord?  And as a follow-up; what do they gain from that?

I will find out Friday nite the purpose of them issuing a 1099 for winnings over $1500.00 as I'm playing in a tournament. I would think the Government is the reasoning but the point i'm making is why should I have to pay taxes on winnings when it was for only $250 here and there that totaled over $1500 for the year. On a gift card that I pay taxes when I redeem them. They don't gain anything from sending a 1099...

Could the competition fees aside from the greens fees be deducted from the winnings? It seems like you "invested" something like $100 over the greens fees just to be in the competition? There are also many where you entered but didn't win anything. . .

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Golfingdad Incredible Member

Golfingdad

I will find out Friday nite the purpose of them issuing a 1099 for winnings over $1500.00 as I'm playing in a tournament. I would think the Government is the reasoning but the point i'm making is why should I have to pay taxes on winnings when it was for only $250 here and there that totaled over $1500 for the year. On a gift card that I pay taxes when I redeem them. They don't gain anything from sending a 1099...

Because if it's the Government, then the argument becomes pointless and has no value here in regards to whether or not the Golf Channel amateur tour is worthwhile or fun or anything like that.

Your beef then becomes solely with the government and the IRS.

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mcanadiens Super Member

mcanadiens

Hobby income/loss rules aren't really friendly. You report the income as other income not subject to self-employment tax. You deduct your expenses as miscellaneous itemized deductions, but only up to the amount you reported as income. If you don't itemize, tough luck.

As far as 1099s go, you file them when you pay someone $600 or more. This is typically for rent or services, but prizes like that would work as well. You file 1099s for two main reasons, 1) To protect your tax deductions. 2) Avoid a potential fine of $200 per form.

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ScottyDawg Newbie

ScottyDawg

Because if it's the Government, then the argument becomes pointless and has no value here in regards to whether or not the Golf Channel amateur tour is worthwhile or fun or anything like that.

Your beef then becomes solely with the government and the IRS.

First of all I have never stated the Golf Channel wasn't fun or anything like that. I have played on it for over 9+ years for several reasons. I have met some great people that I otherwise would have never met. Which is priceless. I have played some great courses under tournament conditions that is also a bonus. And it's an avenue to compete against others with the same handicaps.

My issues are how the tour in the last year or so has taken more from the player than given back. Higher rates and less payouts. No one has explained why the 1099's are handed out.

Is the GCAT worthwhile...?? Define worthwhile in the context of the tour?

Again my beef right now is seeing the GCAT padding their pockets and giving little back to the player. If you went to Nationals last year in Scottsdale you got robbed playing the courses they selected. Grayhawk is a good choice but the 2 courses at Talking Stick are a joke and to $800 for Nationals strengthens my point about them padding their pockets.

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ScottyDawg Newbie

ScottyDawg

Could the competition fees aside from the greens fees be deducted from the winnings? It seems like you "invested" something like $100 over the greens fees just to be in the competition? There are also many where you entered but didn't win anything. . .

Correct tournament this weekend is $375. Greens fees at the course are $75 a round. You win and the payout might be $250. So having to file a 1099 over the course of the year doesn't seem right. Unless you can write off the entry fees and what about travel to this event to compete for said winnings. Last weekend trip to Myrtle Beach entry was $375 Hotel cost me $345 with another $290 for rental car and another $475 for airfare. It just doesn't pass the smell test. Trust i'm not the only complaining in regards to this issue.

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Golfingdad Incredible Member

Golfingdad

First of all I have never stated the Golf Channel wasn't fun or anything like that.

And my post wasn't meant to imply that you did.  My apologies if it looked like that.  I was just pointing out that that is the topic of the thread.  The money taken out on taxes, if its not the golf channels doing, is not relevant, because it would be the same anywhere else as well.

As far as Talking Stick, I'll have to take your word for it.  Online it looks like a really nice place, but I have never played there and know nobody else who has either.  They're back at PGA West this year, so I don't imagine the course rotation will be a problem this time around.

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