Respuesta :
Answer:
Gambling Income
Explanation:
Chin's experience at the casino constitutes a form of income that falls under the category of "gambling income." This classification is pivotal as it pertains to tax obligations, whereby Chin is required to report his gambling winnings to the appropriate tax authorities and potentially pay taxes on the amount he has garnered through his gambling endeavors.
Gambling income encompasses winnings from various games of chance, including but not limited to casino games, lotteries, horse racing, and sports betting. It is subject to taxation in many jurisdictions, contingent upon specific regulations governing gambling and tax laws within the relevant jurisdiction.
Consequently, Chin's windfall of $2000 from his casino winnings signifies a taxable event necessitating compliance with prevailing tax statutes governing gambling income.
