[vpFREE] Re: Advanced Tax question: Not the basics

 

"If an individual with NO other income declares $10,000 in W2-G Gambling Winnings "
 
I think there must be more to your scenario, unless you are a dependent on someone else's return,  the lowest standard deduction amount in 2013 is $6100 (may be higher if filing MFJ or HH or 65 or over and/or blind) and the personal exemption is $3900 so $10,000 in income minus standard deduction of $6100 minus personal exemption of $3900 = $0 taxable income.  Who would/should care about the gambling losses?

__._,_.___
Reply via web post Reply to sender Reply to group Start a New Topic Messages in this topic (6)
.

__,_._,___