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Old 11-21-2005, 06:51 PM
obsidian obsidian is offline
Senior Member
 
Join Date: Mar 2005
Location: IL
Posts: 343
Default Re: Interesting Internet Tax law for Illinois

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that's odd. when i went to H&R block and paid them a lot of money to do my taxes they said that the standard schedule c type stuff applied. did this rule change in the last 9 months?

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Not sure, but this Card Player article seems to echo this:

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This situation is pretty standard in the Upper Midwest. States such as Illinois, Indiana, and Ohio, to name a few, require you to pay tax on your gross winnings, but prohibit any deduction for gaming losses. What an unfair law! The only way to get around it is to file as a professional, which allows you to take the losses off your adjusted gross income, thus substantially reducing your taxable income.

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