You do understand that the losing tickets have to show a pattern of betting similiar and equal to your other betting....and that can include slot machines if you are looking to offset a jackpot.
Additionally, you will have to show the auditor the times and dates that you were here in Vegas that coincide with the losing tickets....charge slips for rooms or food will be necessary to corroborate your audit.
And, if you try to state that you made "day trips" from Cali and everything was paid for in cash, including gas for your car...they will, 99% of the time, disallow your claim that you are a PROFESSIONAL GAMBLER....because that is what you will have to register as a profession to claim that level of deduction without any other proof.
Wish you luck with your search.
You do understand that the losing tickets have to show a pattern of betting similiar and equal to your other betting....and that can include slot machines if you are looking to offset a jackpot.
Additionally, you will have to show the auditor the times and dates that you were here in Vegas that coincide with the losing tickets....charge slips for rooms or food will be necessary to corroborate your audit.
And, if you try to state that you made "day trips" from Cali and everything was paid for in cash, including gas for your car...they will, 99% of the time, disallow your claim that you are a PROFESSIONAL GAMBLER....because that is what you will have to register as a profession to claim that level of deduction without any other proof.
Wish you luck with your search.
Read it again guys.....the "professional gambler" piece refers strictly to a cash-only audit and NOT as a "tourist win".....
If this guy cannot show a consistent betting pattern on the dates connected to his winnings, he will lose his audit with the IRS. Collecting losing tickets WITHOUT showing that he was in Vegas will not help him at all.
...and 666LES, If this guy was to use your tickets without showing that he was in NY making those bets, then you would have to be assigned as his "agent" for betting; which, once again, would make him a "professional gambler" for audit purposes.
Read it again guys.....the "professional gambler" piece refers strictly to a cash-only audit and NOT as a "tourist win".....
If this guy cannot show a consistent betting pattern on the dates connected to his winnings, he will lose his audit with the IRS. Collecting losing tickets WITHOUT showing that he was in Vegas will not help him at all.
...and 666LES, If this guy was to use your tickets without showing that he was in NY making those bets, then you would have to be assigned as his "agent" for betting; which, once again, would make him a "professional gambler" for audit purposes.
If Manix has a 15k pick 3 ticket that had tax withheld all he has to do if off-set 15k in legal gambling losses. He will declare on 2012 IRS forms and he will propably get audit.Catalog your losses and have them on file when you go to audit.This isn't a matter of stooping around racetrack/casino.Do you realize how many $4 exacta box or $5 parleys you would need to pick to reach 15K?
VegasG- if Manix had a 1 hit 15k payout he is just joe citizan who got lucky and he doesn't need to registwer as ProGambler.If he went to Saratoga or beautiful Central NY and gambled and lost I'd bet he wouldn't need to show a grayhound ticket.Maybe/maybe not.
If Manix has a 15k pick 3 ticket that had tax withheld all he has to do if off-set 15k in legal gambling losses. He will declare on 2012 IRS forms and he will propably get audit.Catalog your losses and have them on file when you go to audit.This isn't a matter of stooping around racetrack/casino.Do you realize how many $4 exacta box or $5 parleys you would need to pick to reach 15K?
VegasG- if Manix had a 1 hit 15k payout he is just joe citizan who got lucky and he doesn't need to registwer as ProGambler.If he went to Saratoga or beautiful Central NY and gambled and lost I'd bet he wouldn't need to show a grayhound ticket.Maybe/maybe not.
Maniax, it sounds like you are anticipating a tax audit and not that you are in the middle of one since your asking for 2012 betting slips. There are several loop holes for you to take advantage of. relax.
If you purchase betting slips make sure that they do not have a players card number. If the player used his card while placing the bet then that number will be on the ticket and it is useless for you.
The key is not to create red flags, 15k will not raise a red flag. When you file your taxes you have to itemize your deductions to include your gambling loss up to the amount of "reported wins", G-2W's. It sounds like your 15k win is from video poker or slots. If you won 15k on a stright sports bet you would not receive a W-2G, you would have received an 8300 form for cash transactions over 10k. In the future when you win more than 10k only take less than the 10k in cash and leave the excess in the cage to cash out another day, no 8300 form will be used.
You will not need suporting documentation when you file your taxes, but you will need it only if you are audited. Keep a daily gambling journal. Another easy way to do it yourself is to use an ATM machine inside a casino, either debit or credit card, keep those bank statements. Your you can cash personal checks at the casino cage. You have time to take care of this issue on your own.
Fuck the IRS.
Maniax, it sounds like you are anticipating a tax audit and not that you are in the middle of one since your asking for 2012 betting slips. There are several loop holes for you to take advantage of. relax.
If you purchase betting slips make sure that they do not have a players card number. If the player used his card while placing the bet then that number will be on the ticket and it is useless for you.
The key is not to create red flags, 15k will not raise a red flag. When you file your taxes you have to itemize your deductions to include your gambling loss up to the amount of "reported wins", G-2W's. It sounds like your 15k win is from video poker or slots. If you won 15k on a stright sports bet you would not receive a W-2G, you would have received an 8300 form for cash transactions over 10k. In the future when you win more than 10k only take less than the 10k in cash and leave the excess in the cage to cash out another day, no 8300 form will be used.
You will not need suporting documentation when you file your taxes, but you will need it only if you are audited. Keep a daily gambling journal. Another easy way to do it yourself is to use an ATM machine inside a casino, either debit or credit card, keep those bank statements. Your you can cash personal checks at the casino cage. You have time to take care of this issue on your own.
Fuck the IRS.
666 & Shu....agree with both your last posts....but his original posting had to do with acquiring losing tickets from anyone and anywhere; and if he does happen to get audited (and that is NOT something to GAMBLE on). he can do more than lose this one round to the IRS....they can go back many years, each year, and see what this guy has been doing with his money.
If they question this guy as to "betting patterns" and locations, he will lose....absolutely.
666 & Shu....agree with both your last posts....but his original posting had to do with acquiring losing tickets from anyone and anywhere; and if he does happen to get audited (and that is NOT something to GAMBLE on). he can do more than lose this one round to the IRS....they can go back many years, each year, and see what this guy has been doing with his money.
If they question this guy as to "betting patterns" and locations, he will lose....absolutely.
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