Well he did it your way, since it is only $100 difference.
I think it is wrong. The government taxes "income". If you can prove you are a net loser for the calendar year you have no gambling income; regardless of whether you itemize or not.
Income is taxed, not W-2 forms. Under your idea if someone goes to the casino ten times a year and loses $1000 nine visits but wins $1000 on one visit they will have to file as a $1000 winner!
This is pure sophistry.
Some entry level IRS clerks may be getting away with this nonsense. If someone pushes the issue-and IF they have the proper documentation-this would be laughed out of court. Of course for minimal amounts of money no one wants to go through the trouble, which is what they are banking on.
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Posted by: melbedewy1226@hotmail.com
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