If you have greater than $600 of net earnings during a calendar year, you can expect to receive an IRS Form 1099-Misc from DraftKings. This form will include all net earnings from the prior calendar year.
DraftKings generally calculates net earnings using the following formula:
(Cash Winnings – Cash Entry Fees) + Cash Bonuses = Net Earnings
- This calculation is an estimate and your 1099-Misc may differ in actual totals.
- Entry fees and winnings are claimed in the calendar year in which the contest ends.
- Tickets and promotional funds may not be included in this calculation.