What is a Casino Win/Loss Statement?
A casino win/loss statement is a report or letter from [...]
When are Casino Win/Loss Statements Sent?
Many gamblers and tax professionals want to know when casinos [...]
Why the IRS HATES Casino Win/Loss Statements
The IRS hates casino win/loss statements for two main reasons [...]
Why the US Tax Court HATES Casino Win/Loss Statements
Over the years, the US Tax Court has reviewed [...]
Why Gamblers LOVE/HATE Casino Win/Loss Statements
Gamblers love to use casino win/loss statements because it is [...]
Why Everybody HATES the “Disclaimer” Language in Casino Win/Loss Statements
Without exception, every casino win/loss statement has some type of [...]
Why the IRS LOVES for Gamblers to Use a Gambling Diary to Track their Wins and Losses
The reason why the IRS loves gamblers to use a [...]
What is a “Gambling Session”?
Section 165(d) of the Internal Revenue Code provides that losses [...]