i have been audited for the last 5 years straight on gambling losses (i will not allow it again, i will hit them for harrasment as the last 4 years straight no changes to returns were made!!) the first time was for 2005,6,7 all losses except for 2005 were allowed they disallowed some in 2005 (even with win-loss statements) because that year we used mainly cash at casino's (wrote checks at bank before trip, he said that those checks could have been used for anything, never mind within 2-3 days of the check being written we had w-2g's at casino!!!!! (no checks, debit cards, credit cards used at casinos) 2006,7 all losses allowed with only win-loss statements, bank account statements (showing checks written, and debit card use at casino location) credit card statements (showing cash withdrawn at casino location) 2008, 09 same thing and no changes made to return. the years 2006 -2009 we had over 250k each year in w-2g and were allowed to deduct ALL LOSSES
--- In vpFREE@yahoogroups.com, "rob.singer1111@yahoo.com" <rob.singer1111@...> wrote:
>
> The point was missed. When you're audited, you're providing your gaming facts on your log to the auditor. Nothing is more important to them than what you put on that log. The IRS will believe those facts
> because they are your word and it is suppose to be truthful. If you choose to lie then you are breaking the law and will be subject to penalties or worse. You can provide all the 3rd party info you want, but inaccuracies and mis-statements or out & out lies by that 3rd party will be of no consequence.
>
> They may also select one or several entries, usually losses, and ask for support on where the money came from in order for you to have experienced the claimed loss. Here's where if you are not being truthful on the log it will start to bite you. If you start saying "I had the cash in the house" but you cannot support the loss entries with commensurate bank withdrawals or give other wishy-washy statements, the IRS can disallow those losses, you can do nothing about it per Tax Court case law precedence, and they can & will go over any and all entries with you in the same way.
>
> Sent from my Verizon Wireless 4GLTE smartphone
>
> -----
