Re: [vpFREE] Re: Tax Reform Implications - Bye Bye Mayo

 

https://www.lasvegasadvisor.com/frugal-vegas/tax-season-talk/  

The above explains some of these issues. 

Professional gamblers have NEVER been able to treat their business just like other businesses.  They could NEVER offset their net losses from other (non-gambling) income.  The last few years they have been able to offset their gambling expenses but that is now gone starting this year.

No one has ever "accused" the IRS of being fair!!!!!!


On April 18, 2018 at 12:39 PM "whitejeeps@yahoo.com [vpFREE]" <vpFREE@yahoogroups.com> wrote:

 

Hi Spartan   

I guess casual players who file Long Form still can deduct all losses, up to winnings?  

 However, if in gambling biz as player, can't deduct gaming loss or expenses from 
other income?   If thats the case, it's not fair.  

Did I get it right?

Cheers....Jeep

 


 

 

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