My point is that "the law" is not absurd at all-it taxes winning in a calendar year. If you have no winnings over the calendar year, and you can prove it with a diary and legitimate casino records, you have no winnings.
Another poster states there is "plenty" of citation evidence supporting. As a lawyer I would like to see just ONE tax law appellate case upholding such a bizarre result! Using such logic that a single bet is a "winning" if one were to make 100 $100 bets on "Player" in Baccarat, win 50, lose 50, one would have made zero profit but would have to report $5000 in "winnings" on Line 21. That is, like taxing slot machine handpays when one has proof he has lost money over the year, is simply not an interpretation any appellate court would entertain- in my opinion.
__._,_.___
Posted by: melbedewy1226@hotmail.com
| Reply via web post | • | Reply to sender | • | Reply to group | • | Start a New Topic | • | Messages in this topic (9) |
Have you tried the highest rated email app?
With 4.5 stars in iTunes, the Yahoo Mail app is the highest rated email app on the market. What are you waiting for? Now you can access all your inboxes (Gmail, Outlook, AOL and more) in one place. Never delete an email again with 1000GB of free cloud storage.
SPONSORED LINKS
.
__,_._,___
