Re: [vpFREE] What about 1099-MISC Gambling Income

I've been using Turbo Tax to prepare my returns for the past several years.

When entering your 1099 income, Turbo Tax asks you if the 1099's are for
winnings. If you answer "yes," Turbo Tax automatically takes you to a page
where you can enter the amount of your gambling losses to offset these 1099
winnings.

If Turbo Tax considers a 1099 win a gambling win, then I think the IRS does,
too.

On Mon, Mar 30, 2009 at 9:59 AM, jpq321 <jpquarz@cox.net> wrote:

> My CPA reports them separately because the 1099 misc winnings are
> deductible only after they exceed a certain percent of your income.
> I don't consider a 1099 win a gambling win, and I don't think the IRS does
> either.

[Non-text portions of this message have been removed]

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