Hi group, don't mean to take over this thread however, I too have a few questions regarding gambling taxes.
This will be my first year with W2G's. I understand that in order to declare gambling losses up to the amount won you need to itemize. However, what option is there beside itemizing your losses? Would you then accept the wins without offsetting the losses?
Thanks,
Manuel
sandcroftalan <awalstad@sandcroft.net> wrote:
>
>
>Marvin,
>
>Congratulations on your wins! A member of my family found themselves in a similar situation last year and had not kept good records of their prior wins and losses. So they decided to create an app for the iPhone that would help with keeping a diary. If you are an iPhone, iPod Touch or iPad user, please visit the iTunes store for a free download of the software:
>
>http://itunes.apple.com/us/app/winloss-slot-players-diary/id408765252?mt=8&ls=1
>
>We are interested feedback on the app, so if you have any suggestions for us, please contact me through vpFREE, email, or our website at: http://www.sandcroft.net/send-winloss-feedback/
>
>Best Regards,
>Alan
>
>
>--- In vpFREE@yahoogroups.com, "simpsonmarvin@..." <simpsonmarvin@...> wrote:
>>
>> I am new to Video Poker but I had a good year in 2010 and received a couple of W-2G forms.
>> The fellow who does my taxes told me I had to pay tax on the total as I have no other records.
>>
>> I think I am stuck for last year but I have vowed to get religion this year and keep some sort of diary.
>>
>> What is the best way to do
