[vpFREE] Re: Gambling and 1099's

 

I've done so.  Added 1099 into gross gaming wins "Other Income" and made a brief notation on the line description that "$xxxx in gambling-related 1099 income incl (gaming activity required)"

The returns haven't been flagged for further review/line item audit.



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

In my gambling career I've gotten plenty of W2-G's but I've never received a 1099. As I understand it the W2-G's are issued for gambling wins and 1099's are issued for prizes and gifts. My question is can you write off gambling losses against 1099's.

Thanks for any responses.


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