I'm embarrassed to say that I wasn't familiar with 2015-21 and that my comments reflected an interpretation under the earlier decided Schollenberg case.
I agree with your interpretation of 2015-21 and appreciate the enlightenment :)
I'll note that a brief review didn't see evidence of proposal 2015--21 being formerly adopted yet. If not, then if a return is challenged there's no guarantee that the examiner will accept the described tax treatment of winnings/losses. But you're certainly on better legs than simply winging it.
I'd be interested in seeing additional discussion re 2015-21, particularly when it comes to defining the hours of a "casino day". Personally, I'd be inclined to let the casino accounting day drive this, since that's what drives my play timing. However, there's some discussion of midnight being a fixed break.
Since the guidance is restricted to machine play that is computer tracked, defining a gambling day as being the casino accounting day bears a certain amount of consistency.
---In vpFREE@yahoogroups.com, <walterhnri@...> wrote :
You might want to look at IRS Notice 2015-21 – Proposed Safe Harbor Method for Determining a Wagering Gain or Loss from Slot Machine Play. This document defines a session of play as play during a calendar day on a particular type of game at the same gaming establishment. I don't believe that a hand pay (that usually requires removal of the player's card from the machine) triggers the end of a "session". But that is just my opinion.
btw, not to minimize your point about the benefit of session reporting, I'll note that my interpretation of the session rules are such that any transaction that results in the redemption of credits for cash constitutes a session break. As such, being issued a w2-g with cash payment will require accounting for a session at that point, reducing the opportunity for offsetting "session" losses later in the day. (I haven't seen this "take" validated elsewhere, but I find it consistent with the logic of session reporting. You're welcome to take it with less than a grain of salt ;)
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