--- In vpFREE@yahoogroups.com, "mike" <melbedewy1226@...> wrote:
>
>
> I've got a better one.
> You're a twice a year casino goer who just plays quarters, pretty much breaking even. You hit for a $1000 royal. No hand pay. No paperwork. In fact you don't even use a players card.
> How many of you are putting this under miscellaneous income on your 1040 next year and giving Nobama and Jerry Brown half of it?
> Raise your hands now.....
>
Mike, why is $1000 a magical number? What if I hit a $500 super aces hand? If I'm supposed to put the royal hit on misc income, I guess I should put the Super Aces hit there, too. How about aces in Double Bonus? Should I put the $200 under misc income? By that reasoning, a full house or a flush or even a high pair. That's where the IRS method falls apart. A $1200 hit ( with paper work) is treated differently that a $1000 hit ( no paperwork). Without the w2, I can probably do a daily session for wins and losses. With a W2, I should claim the w2 as a win ( including the amount of my wager, which is ridiculous) or I'll probably get a note from the IRS.
It makes it hard to figure out when a win or a session isn't clearly defined.
