Re: [vpFREE] Re: CET Win Loss Statement now available

 

Bottom line you put in $100 cash and cashed out $150. The $100 freeplay is not cash and cannot be cashed out until played through once. If you put $200 cash in the machine you would be correct even if $100 cash came from a casino mail coupon. Bottom line $100 free play is not the same as $100 cash.

[Non-text portions of this message have been removed]

__._,_.___
Posted by: cy4873@hotmail.com
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (19)

.

__,_._,___

[vpFREE] Golden Nugget - Lake Charles VP

 

vpfree2: "Nothing good..."


Does anyone know just how bad?

[Non-text portions of this message have been removed]

__._,_.___
Posted by: roaches@austin.rr.com
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (1)

.

__,_._,___

Re: [vpFREE] Re: CET Win Loss Statement now available

 

"Just to recap, it sounds like the IRS would have no problem with Jim's reporting. Here's an acid test: Play a session with $100 FSP and $100 of your own cash in the machine. Cash out the session with $150. Gross session winnings of $50 are reportable to the IRS. Bottom line, it's your actual cash flow that should drive your gambling reporting."

Respectfully disagree. You loaded the machine with $200 in credits and cashed out $150. Bottom line: you lost $50.


.



[Non-text portions of this message have been removed]

__._,_.___
Posted by: roaches@austin.rr.com
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (18)

.

__,_._,___

Re: [vpFREE] Re: CET Win Loss Statement now available

 

Harry, Works for me---thanks.I guess I've been going to more trouble than necessary to keep it "clean"Thanks for your inputs and Happy New Year. Jim  

On Monday, January 5, 2015 3:31 PM, "harry.porter@verizon.net [vpFREE]" <vpFREE@yahoogroups.com> wrote:


  Just to recap, it sounds like the IRS would have no problem with Jim's reporting. Here's an acid test: Play a session with $100 FSP and $100 of your own cash in the machine. Cash out the session with $150. Gross session winnings of $50 are reportable to the IRS. Bottom line, it's your actual cash flow that should drive your gambling reporting.

[Non-text portions of this message have been removed]

#yiv4469749758 #yiv4469749758 -- #yiv4469749758ygrp-mkp {border:1px solid #d8d8d8;font-family:Arial;margin:10px 0;padding:0 10px;}#yiv4469749758 #yiv4469749758ygrp-mkp hr {border:1px solid #d8d8d8;}#yiv4469749758 #yiv4469749758ygrp-mkp #yiv4469749758hd {color:#628c2a;font-size:85%;font-weight:700;line-height:122%;margin:10px 0;}#yiv4469749758 #yiv4469749758ygrp-mkp #yiv4469749758ads {margin-bottom:10px;}#yiv4469749758 #yiv4469749758ygrp-mkp .yiv4469749758ad {padding:0 0;}#yiv4469749758 #yiv4469749758ygrp-mkp .yiv4469749758ad p {margin:0;}#yiv4469749758 #yiv4469749758ygrp-mkp .yiv4469749758ad a {color:#0000ff;text-decoration:none;}#yiv4469749758 #yiv4469749758ygrp-sponsor #yiv4469749758ygrp-lc {font-family:Arial;}#yiv4469749758 #yiv4469749758ygrp-sponsor #yiv4469749758ygrp-lc #yiv4469749758hd {margin:10px 0px;font-weight:700;font-size:78%;line-height:122%;}#yiv4469749758 #yiv4469749758ygrp-sponsor #yiv4469749758ygrp-lc .yiv4469749758ad {margin-bottom:10px;padding:0 0;}#yiv4469749758 #yiv4469749758actions {font-family:Verdana;font-size:11px;padding:10px 0;}#yiv4469749758 #yiv4469749758activity {background-color:#e0ecee;float:left;font-family:Verdana;font-size:10px;padding:10px;}#yiv4469749758 #yiv4469749758activity span {font-weight:700;}#yiv4469749758 #yiv4469749758activity span:first-child {text-transform:uppercase;}#yiv4469749758 #yiv4469749758activity span a {color:#5085b6;text-decoration:none;}#yiv4469749758 #yiv4469749758activity span span {color:#ff7900;}#yiv4469749758 #yiv4469749758activity span .yiv4469749758underline {text-decoration:underline;}#yiv4469749758 .yiv4469749758attach {clear:both;display:table;font-family:Arial;font-size:12px;padding:10px 0;width:400px;}#yiv4469749758 .yiv4469749758attach div a {text-decoration:none;}#yiv4469749758 .yiv4469749758attach img {border:none;padding-right:5px;}#yiv4469749758 .yiv4469749758attach label {display:block;margin-bottom:5px;}#yiv4469749758 .yiv4469749758attach label a {text-decoration:none;}#yiv4469749758 blockquote {margin:0 0 0 4px;}#yiv4469749758 .yiv4469749758bold {font-family:Arial;font-size:13px;font-weight:700;}#yiv4469749758 .yiv4469749758bold a {text-decoration:none;}#yiv4469749758 dd.yiv4469749758last p a {font-family:Verdana;font-weight:700;}#yiv4469749758 dd.yiv4469749758last p span {margin-right:10px;font-family:Verdana;font-weight:700;}#yiv4469749758 dd.yiv4469749758last p span.yiv4469749758yshortcuts {margin-right:0;}#yiv4469749758 div.yiv4469749758attach-table div div a {text-decoration:none;}#yiv4469749758 div.yiv4469749758attach-table {width:400px;}#yiv4469749758 div.yiv4469749758file-title a, #yiv4469749758 div.yiv4469749758file-title a:active, #yiv4469749758 div.yiv4469749758file-title a:hover, #yiv4469749758 div.yiv4469749758file-title a:visited {text-decoration:none;}#yiv4469749758 div.yiv4469749758photo-title a, #yiv4469749758 div.yiv4469749758photo-title a:active, #yiv4469749758 div.yiv4469749758photo-title a:hover, #yiv4469749758 div.yiv4469749758photo-title a:visited {text-decoration:none;}#yiv4469749758 div#yiv4469749758ygrp-mlmsg #yiv4469749758ygrp-msg p a span.yiv4469749758yshortcuts {font-family:Verdana;font-size:10px;font-weight:normal;}#yiv4469749758 .yiv4469749758green {color:#628c2a;}#yiv4469749758 .yiv4469749758MsoNormal {margin:0 0 0 0;}#yiv4469749758 o {font-size:0;}#yiv4469749758 #yiv4469749758photos div {float:left;width:72px;}#yiv4469749758 #yiv4469749758photos div div {border:1px solid #666666;height:62px;overflow:hidden;width:62px;}#yiv4469749758 #yiv4469749758photos div label {color:#666666;font-size:10px;overflow:hidden;text-align:center;white-space:nowrap;width:64px;}#yiv4469749758 #yiv4469749758reco-category {font-size:77%;}#yiv4469749758 #yiv4469749758reco-desc {font-size:77%;}#yiv4469749758 .yiv4469749758replbq {margin:4px;}#yiv4469749758 #yiv4469749758ygrp-actbar div a:first-child {margin-right:2px;padding-right:5px;}#yiv4469749758 #yiv4469749758ygrp-mlmsg {font-size:13px;font-family:Arial, helvetica, clean, sans-serif;}#yiv4469749758 #yiv4469749758ygrp-mlmsg table {font-size:inherit;font:100%;}#yiv4469749758 #yiv4469749758ygrp-mlmsg select, #yiv4469749758 input, #yiv4469749758 textarea {font:99% Arial, Helvetica, clean, sans-serif;}#yiv4469749758 #yiv4469749758ygrp-mlmsg pre, #yiv4469749758 code {font:115% monospace;}#yiv4469749758 #yiv4469749758ygrp-mlmsg * {line-height:1.22em;}#yiv4469749758 #yiv4469749758ygrp-mlmsg #yiv4469749758logo {padding-bottom:10px;}#yiv4469749758 #yiv4469749758ygrp-msg p a {font-family:Verdana;}#yiv4469749758 #yiv4469749758ygrp-msg p#yiv4469749758attach-count span {color:#1E66AE;font-weight:700;}#yiv4469749758 #yiv4469749758ygrp-reco #yiv4469749758reco-head {color:#ff7900;font-weight:700;}#yiv4469749758 #yiv4469749758ygrp-reco {margin-bottom:20px;padding:0px;}#yiv4469749758 #yiv4469749758ygrp-sponsor #yiv4469749758ov li a {font-size:130%;text-decoration:none;}#yiv4469749758 #yiv4469749758ygrp-sponsor #yiv4469749758ov li {font-size:77%;list-style-type:square;padding:6px 0;}#yiv4469749758 #yiv4469749758ygrp-sponsor #yiv4469749758ov ul {margin:0;padding:0 0 0 8px;}#yiv4469749758 #yiv4469749758ygrp-text {font-family:Georgia;}#yiv4469749758 #yiv4469749758ygrp-text p {margin:0 0 1em 0;}#yiv4469749758 #yiv4469749758ygrp-text tt {font-size:120%;}#yiv4469749758 #yiv4469749758ygrp-vital ul li:last-child {border-right:none !important;}#yiv4469749758

[Non-text portions of this message have been removed]

__._,_.___
Posted by: Jim Engstrom <jimengstrom1@yahoo.com>
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (17)

.

__,_._,___

Re: [vpFREE] Re: New Version of WinPoker CD

 

Casino Windsor Does have full Pay Pick'em in $1/2 denominations.
$80=1 TC
Offers are poor if you play these machines

[Non-text portions of this message have been removed]

__._,_.___
Posted by: jerry.udell@gmail.com
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (12)

.

__,_._,___

Re: [vpFREE] Re: CET Win Loss Statement now available

 

Just to recap, it sounds like the IRS would have no problem with Jim's reporting. Here's an acid test: Play a session with $100 FSP and $100 of your own cash in the machine. Cash out the session with $150. Gross session winnings of $50 are reportable to the IRS. Bottom line, it's your actual cash flow that should drive your gambling reporting.

[Non-text portions of this message have been removed]

__._,_.___
Posted by: harry.porter@verizon.net
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (16)

.

__,_._,___

Re: [vpFREE] Rethinking all this paperwork

 

Larry,

If it weren't for the pleasure that my wife and I get from playing endless hours of video poker side by side, I would wholly concur.

When and if 99% plus VP opportunities disappear from the scene, we will both bid the casinos a fond farewell.

It's been a most enjoyable run, but we're tiring of the downward spiral in good VP gaming opportunities.

We used to go to Nevada from Florida at least once a month, now we're down to about once a quarter.

We're already considering scaling back to twice a year.

Sad, but that's the reality of it.

Jim

Sent from my iPhone

> On Jan 5, 2015, at 12:19 PM, lfcmja@verizon.net [vpFREE] <vpFREE@yahoogroups.com> wrote:
>
> My two cents....
>
>
> The discussion of the dilemmas in figuring W/L , increases in Medicare premiums, combined with the dwindling good playing opportunities is making me seriously think of moving to a low house edge table game.
>
>
> Larry F.
>
> [Non-text portions of this message have been removed]
>
>

[Non-text portions of this message have been removed]

__._,_.___
Posted by: James Engstrom <jimengstrom1@yahoo.com>
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (2)

.

__,_._,___

[vpFREE] Rethinking all this paperwork

 

My two cents....


The discussion of the dilemmas in figuring W/L , increases in Medicare premiums, combined with the dwindling good playing opportunities is making me seriously think of moving to a low house edge table game.


Larry F.

[Non-text portions of this message have been removed]

__._,_.___
Posted by: lfcmja@verizon.net
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (1)

.

__,_._,___

Re: [vpFREE] Re: CET Win Loss Statement now available

 

Well, first of all, I always play my free play on quarter single play machines, so a W2G could not be generated. However, to answer your question, it appears to me that their "gift" of freeplay, ends up with a value of whatever is left at the end of that session.  In my contemporaneous handwritten log, I don't mix freeplay results with money out of my pocket results. Whatever I cash out at the end of my "freeplay" session, is what I log as winnings.In all candor, that amount is usually 0 because I normally play until I've lost my freeplay.  My only "profit" is represented by whatever reward credits I've accumulated during that period.  I realize that the rewards credits have value, but I don't view them as  reportable winnings any more than I would with free rooms or meals. If, for some reason, I was playing my freeplay on a dollar machine, AND I hit a hand that generated a W2G, AND I quit before I lost it back to the casino, then, yes, I would log  whatever I cashed out as gambling winnings for that session.  (How I would handle the face value of the freeplay is another matter). I don't think the IRS would have a problem with that interpretation, when and IF I ever am audited.I've been doing it this way for over 50 years and have never been audited. (I turn 74 tomorrow.) I realize sending an email like this into the public domain could increase the chances of an audit, but I would welcome that as  I'm convinced my interpretation is a conservative one. Jim 

On Monday, January 5, 2015 11:04 AM, "Shagatola shagatola@yahoo.com [vpFREE]" <vpFREE@yahoogroups.com> wrote:


  What if you hit a taxable jackpot when playing off the free-play-gift? I've always reported free play as normal play and winnings. After all, the amount you're playing through (say $250 in free play) isn't cash, it is in fact a gift. The casino is free-rolling you. If you lose every hand, nothing happens. But if you do win a hand, that means you win money (duh). And winning money, in any way, shape, or form, is supposed to be reported to the IRS on your tax forms, as far as I know, at least. Sure, you can probably get away with not reporting your free-play winnings/earnings/gifts to the IRS, but that's not a tree I want to climb.

"Jim Engstrom wrote:

>> A coupon from Caesars is not money and clearly says so on the coupon. If you lose the coupon (in a machine or otherwise) you have lost no money ...
#yiv2463695388 #yiv2463695388 -- #yiv2463695388ygrp-mkp {border:1px solid #d8d8d8;font-family:Arial;margin:10px 0;padding:0 10px;}#yiv2463695388 #yiv2463695388ygrp-mkp hr {border:1px solid #d8d8d8;}#yiv2463695388 #yiv2463695388ygrp-mkp #yiv2463695388hd {color:#628c2a;font-size:85%;font-weight:700;line-height:122%;margin:10px 0;}#yiv2463695388 #yiv2463695388ygrp-mkp #yiv2463695388ads {margin-bottom:10px;}#yiv2463695388 #yiv2463695388ygrp-mkp .yiv2463695388ad {padding:0 0;}#yiv2463695388 #yiv2463695388ygrp-mkp .yiv2463695388ad p {margin:0;}#yiv2463695388 #yiv2463695388ygrp-mkp .yiv2463695388ad a {color:#0000ff;text-decoration:none;}#yiv2463695388 #yiv2463695388ygrp-sponsor #yiv2463695388ygrp-lc {font-family:Arial;}#yiv2463695388 #yiv2463695388ygrp-sponsor #yiv2463695388ygrp-lc #yiv2463695388hd {margin:10px 0px;font-weight:700;font-size:78%;line-height:122%;}#yiv2463695388 #yiv2463695388ygrp-sponsor #yiv2463695388ygrp-lc .yiv2463695388ad {margin-bottom:10px;padding:0 0;}#yiv2463695388 #yiv2463695388actions {font-family:Verdana;font-size:11px;padding:10px 0;}#yiv2463695388 #yiv2463695388activity {background-color:#e0ecee;float:left;font-family:Verdana;font-size:10px;padding:10px;}#yiv2463695388 #yiv2463695388activity span {font-weight:700;}#yiv2463695388 #yiv2463695388activity span:first-child {text-transform:uppercase;}#yiv2463695388 #yiv2463695388activity span a {color:#5085b6;text-decoration:none;}#yiv2463695388 #yiv2463695388activity span span {color:#ff7900;}#yiv2463695388 #yiv2463695388activity span .yiv2463695388underline {text-decoration:underline;}#yiv2463695388 .yiv2463695388attach {clear:both;display:table;font-family:Arial;font-size:12px;padding:10px 0;width:400px;}#yiv2463695388 .yiv2463695388attach div a {text-decoration:none;}#yiv2463695388 .yiv2463695388attach img {border:none;padding-right:5px;}#yiv2463695388 .yiv2463695388attach label {display:block;margin-bottom:5px;}#yiv2463695388 .yiv2463695388attach label a {text-decoration:none;}#yiv2463695388 blockquote {margin:0 0 0 4px;}#yiv2463695388 .yiv2463695388bold {font-family:Arial;font-size:13px;font-weight:700;}#yiv2463695388 .yiv2463695388bold a {text-decoration:none;}#yiv2463695388 dd.yiv2463695388last p a {font-family:Verdana;font-weight:700;}#yiv2463695388 dd.yiv2463695388last p span {margin-right:10px;font-family:Verdana;font-weight:700;}#yiv2463695388 dd.yiv2463695388last p span.yiv2463695388yshortcuts {margin-right:0;}#yiv2463695388 div.yiv2463695388attach-table div div a {text-decoration:none;}#yiv2463695388 div.yiv2463695388attach-table {width:400px;}#yiv2463695388 div.yiv2463695388file-title a, #yiv2463695388 div.yiv2463695388file-title a:active, #yiv2463695388 div.yiv2463695388file-title a:hover, #yiv2463695388 div.yiv2463695388file-title a:visited {text-decoration:none;}#yiv2463695388 div.yiv2463695388photo-title a, #yiv2463695388 div.yiv2463695388photo-title a:active, #yiv2463695388 div.yiv2463695388photo-title a:hover, #yiv2463695388 div.yiv2463695388photo-title a:visited {text-decoration:none;}#yiv2463695388 div#yiv2463695388ygrp-mlmsg #yiv2463695388ygrp-msg p a span.yiv2463695388yshortcuts {font-family:Verdana;font-size:10px;font-weight:normal;}#yiv2463695388 .yiv2463695388green {color:#628c2a;}#yiv2463695388 .yiv2463695388MsoNormal {margin:0 0 0 0;}#yiv2463695388 o {font-size:0;}#yiv2463695388 #yiv2463695388photos div {float:left;width:72px;}#yiv2463695388 #yiv2463695388photos div div {border:1px solid #666666;height:62px;overflow:hidden;width:62px;}#yiv2463695388 #yiv2463695388photos div label {color:#666666;font-size:10px;overflow:hidden;text-align:center;white-space:nowrap;width:64px;}#yiv2463695388 #yiv2463695388reco-category {font-size:77%;}#yiv2463695388 #yiv2463695388reco-desc {font-size:77%;}#yiv2463695388 .yiv2463695388replbq {margin:4px;}#yiv2463695388 #yiv2463695388ygrp-actbar div a:first-child {margin-right:2px;padding-right:5px;}#yiv2463695388 #yiv2463695388ygrp-mlmsg {font-size:13px;font-family:Arial, helvetica, clean, sans-serif;}#yiv2463695388 #yiv2463695388ygrp-mlmsg table {font-size:inherit;font:100%;}#yiv2463695388 #yiv2463695388ygrp-mlmsg select, #yiv2463695388 input, #yiv2463695388 textarea {font:99% Arial, Helvetica, clean, sans-serif;}#yiv2463695388 #yiv2463695388ygrp-mlmsg pre, #yiv2463695388 code {font:115% monospace;}#yiv2463695388 #yiv2463695388ygrp-mlmsg * {line-height:1.22em;}#yiv2463695388 #yiv2463695388ygrp-mlmsg #yiv2463695388logo {padding-bottom:10px;}#yiv2463695388 #yiv2463695388ygrp-msg p a {font-family:Verdana;}#yiv2463695388 #yiv2463695388ygrp-msg p#yiv2463695388attach-count span {color:#1E66AE;font-weight:700;}#yiv2463695388 #yiv2463695388ygrp-reco #yiv2463695388reco-head {color:#ff7900;font-weight:700;}#yiv2463695388 #yiv2463695388ygrp-reco {margin-bottom:20px;padding:0px;}#yiv2463695388 #yiv2463695388ygrp-sponsor #yiv2463695388ov li a {font-size:130%;text-decoration:none;}#yiv2463695388 #yiv2463695388ygrp-sponsor #yiv2463695388ov li {font-size:77%;list-style-type:square;padding:6px 0;}#yiv2463695388 #yiv2463695388ygrp-sponsor #yiv2463695388ov ul {margin:0;padding:0 0 0 8px;}#yiv2463695388 #yiv2463695388ygrp-text {font-family:Georgia;}#yiv2463695388 #yiv2463695388ygrp-text p {margin:0 0 1em 0;}#yiv2463695388 #yiv2463695388ygrp-text tt {font-size:120%;}#yiv2463695388 #yiv2463695388ygrp-vital ul li:last-child {border-right:none !important;}#yiv2463695388

[Non-text portions of this message have been removed]

__._,_.___
Posted by: Jim Engstrom <jimengstrom1@yahoo.com>
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (15)

.

__,_._,___

[vpFREE] Re: Tier credit Bonus

 

The delay is for several reasons:

- January 1 was a holiday and January 3 and 4 were weekend days; it can
take from 3-5 business days to post bonuses under "normal" circumstances.
- The system was bogged down already to clear 2014 tier scores, post
2014 win-loss statements and update 2015 tier scores.

Just be patient! I can assure you, the bonus tier program is still in
effect.

Darryl

*Darryl D. McEwen, Publisherhttp://www.sevenstarsinsider.com
<http://www.sevenstarsinsider.com>*

*Click here
<https://sites.google.com/site/sevenstarsinsider/latest-news-about-caesars-entertainment>
for latest news about Caesars Entertainment*

*Follow us on Twitter: @7StarsInsider*

[Non-text portions of this message have been removed]

__._,_.___
Posted by: "Darryl D. McEwen, Seven Stars Insider Publisher" <sevenstarsinsider@gmail.com>
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (2)

.

__,_._,___

[vpFREE] Re: CET Win Loss Statement now available

 

The phrase "goodwill distribution" has no meaning in tax law in this context. "gift" needs to be free of consideration.

I'm no expert, but am an accounting professional .... I expect that the requirement to return to the casino to play the coupon, as well as the general stipulation that redemption without play may kill further offers, would be likely sufficient to establish consideration.

I don't consider play accounting to be rocket science. I report my results on a cash basis. Anything directly related to play that reduces my cash outlays on gambling is reported as a reduction in gross loss, or reported as gross winnings (as circumstances deem appropriate).


---In vpFREE@yahoogroups.com, <jimengstrom1@...> wrote :

> A coupon from Caesars is not money and clearly says so on the coupon. If you lose the coupon (in a machine or otherwise) you have lost no money.

But, how do you handle what its value has become after it is played through once and it becomes real money?

Is the ending amount simply considered to be winnings, with nothing having been risked in earning it? In my opinion, it's a gift or "goodwill distribution" from CET to you, the amount of that gift is not determined until you have played it through.Like any gift you receive, it's not a taxable event for you. After CET has distributed a certain amount in any one calendar year (currently someplace around $14,000) to any one individual, I would think there would be tax consequences for them, but that's not the recipients concern. Jim






[Non-text portions of this message have been removed]

__._,_.___
Posted by: harry.porter@verizon.net
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (13)

.

__,_._,___

Re: [vpFREE] Re: CET Win Loss Statement now available

 

> In my opinion, it's a gift or "goodwill distribution" from CET to you, the amount of that gift is not determined until you have played it through.Like any gift you receive, it's not a taxable event for you.



But, there is a non-zero chance, when playing through a "free money coupon", that you may hit a $4,000 RF and get a W2-G. I think one would have a hard time convincing the IRS this was a "gift from CET", if you happened to be audited.

(I am not trying to be a "wise-guy" nor argumentative, I am just seeking the ways in which various people treat their "free money coupons".

..... bl

(I did, in fact, once get a $1,000 RF with quarter VP while playing "free money" through once.)

[Non-text portions of this message have been removed]

__._,_.___
Posted by: bornloser1537@yahoo.com
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (12)

.

__,_._,___
Subscribe to: Posts (Atom)