Highly inaccurate. Highly.
Any business that files a 1099 is deducting the whole amount on
the 1099 as a business expense.
On 2/15/08, Cogno Scienti <cognoscienti@
>
> <<Also, you need to factor in the increased chance of getting audited
> (for claiming a win is actually worth less than the 1099 price, keep
> in mind that the casino is writing off the full 1099 from its taxes).>>
>
> I don't think the casino is writing off any more than they paid for the
> prize.
>
> Cogno
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