Any chance you can send these questions off to Marissa or speak to how you specifically deal with them? I acknowledge that I am just asking for informational purposes, there is no engagement letter, there is no formal relationship between me and anyone else that offers advice, etc.
1. A casino gives me a $50 dining coupon via mailer - it has an expiration date. Is this taxable income when I use it?
2. A casino gives me a $50 dining coupon after I played for an hour - it has an expiration date. Is this taxable income when I use it?
3. I earn 1000 points at a casino and can use them to get $10 freeplay or $20 worth of food at the restaurant. Are either of these taxable income when I use them, and if spending my points on food is, do I say that was $20 (food value) or $10 (cash value) worth of income?
4. I earn 1000 points at a casino and can ONLY spend the points on gifts at the gift shop. Is this taxable?
5. I earned $50 in gas gift cards while playing (did not spend points on them), are these taxable?
In my mind, prior to reading the book, I would have thought that only 3 (both food & freeplay) was taxable, and 5 was taxable. However, after reading the book, especially when it says gifts are not taxable, I'm pretty strongly inclined to believe 5 is not taxable, and 3 may only be taxable if you take the freeplay.
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Posted by: aonsf@reallymymail.com
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