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#1
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At the beginning of the year, I decided to track every penny of my gambling wins and losses. Along the way, I learned how to play poker and am now making it pay off. No problem, I've got my log and will pay tax on my winnings.
I went to a casino a few times and won/lost playing blackjack. No problem, that's income/loss and I'll report it. But what about stuff like home poker games and other miscellaneous stuff? I'm thinking that everyone counts, but I have this funny thought of getting audited and having an IRS agent ask "What's this? You lost fifty bucks on Aug 18 playing Paper Rock Scissors?" Since this really happened, (The PRS, not the IRS) do I really include Everything? |
#2
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who has the no dumb question signature?
Any question about saving money on taxes is a worthwhile one...and to the best of my knowledge, gambling is gambling...and if you lost, it is a loss...but it goes on your schedule A unless you file as a professional gambler. www.rbstaxes.com is one place to look. |
#3
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That's pretty much what I was thinking. Thanks.
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#4
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i guess the acid test is ...If you won, they would want their share!
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#5
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[ QUOTE ]
i guess the acid test is [/ QUOTE ] Litmus test. |
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