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  #1  
Old 10-25-2005, 01:46 PM
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Default 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?
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  #2  
Old 10-25-2005, 01:52 PM
MicroBob MicroBob is offline
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Default Re: RETIREMENT PLAN

you can get all the benefits. get gamblers guide to taxes by walter l lewis.
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  #3  
Old 10-25-2005, 07:22 PM
radar5 radar5 is offline
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Default Re: RETIREMENT PLAN

Thanks Bob, I have been looking for the old thread that mentioned that book.
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Old 10-25-2005, 10:31 PM
Jimbo Jimbo is offline
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Default 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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