Article Date:
January 2006


Word Count:
587

 

 

Shaky Proof in Gambling Income and Loss Case


Traci and Ronald Tomko, recreational gamblers who played the slot machines, reported on their tax return that they had gambling income of $21,100 and gambling losses of $21,100.

 

When you win more than $1,200 at the slots, the casino must report your winnings to the IRS. In this case, the casinos reported to the IRS that the Tomkos had gambling winnings of $44,464. This did not match the $21,100 on the Tomkos’ tax return; thus, the Tomkos brought themselves to ... Log in to view full article.

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