Quote:
Originally Posted by Dunbar
That may be the rule for receiving a Form W-2G, but the IRS still wants you to pay tax on any gambling winnings. As I understand it, the sum of all your winning days at the track are taxable. And you can only deduct the losses of your losing days, or losses from other kinds of gambling, if you itemize. (or if you file a Sch C as a professional gambler).
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How would IRS know about this win since it has no documentation?
01-15-2020, 09:10 PM
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