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Old 03-09-2004, 01:50 PM
lostinthought lostinthought is offline
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Join Date: Sep 2003
Posts: 306
Default Re: How Do you keep your records?

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If audited, it will be imposible to prove your winnings and losses.


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It depends on what you mean by to "prove" and it turns out that the government might not require you to "prove" it. I think you just have to provide substantial evidence. I am under the impression that a database/spreadsheet that has daily sessions logged would be sufficient. The IRS would be able to look at that combined with your banking records, credit records, and capital and be able to tell for the most part if it's reasonable.

Why are you so worried, and why are you posting all these tax related questions?

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