Thank you for this, I was unable to take the course at the time. What kind of documentation would be acceptable for the sessions? bank statement with atm w/d for the initial gamble but what about the other wagers lost on that day?
I guess I'm hung up on two things: The matching program for the W2-G, and the fact that gambling losses can only be claimed on Schedule A, and they don't have enough to itemize. How can they net everything and put it on the other income line?
Tom Talks Taxes - February 22, 2022
I've learned a great lesson, thank you!
Thank you for this, I was unable to take the course at the time. What kind of documentation would be acceptable for the sessions? bank statement with atm w/d for the initial gamble but what about the other wagers lost on that day?
I think that Schedule G is a great idea!
I guess I'm hung up on two things: The matching program for the W2-G, and the fact that gambling losses can only be claimed on Schedule A, and they don't have enough to itemize. How can they net everything and put it on the other income line?