RETIREMENT PLAN
Is it allowed to have retirement plan such as SEP IRA or Solo 401K for a profesional gambler?If you file as professional gambler,you file scheduled C.Can professional gamblers can get the all the benefit schedule C filer gets?
Or any restriction? |
Re: RETIREMENT PLAN
you can get all the benefits. get gamblers guide to taxes by walter l lewis.
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Re: RETIREMENT PLAN
Thanks Bob, I have been looking for the old thread that mentioned that book.
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Re: RETIREMENT PLAN
[ QUOTE ]
Or any restriction? [/ QUOTE ] Yes just one, unlike other professionals the IRS has been know to disallow some from filing as a professional gambler. Be sure you meet all the other qualifications specific to becoming a professional gambler before you rely on the potentail benefits. |
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