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

--- In vpFREE@yahoogroups.com, "kcace1024" <cy4873@...> wrote:
>
> Has anyone had any IRS problems with including 1099 income from drawings and slot tournaments with W-2G income and deducting gambling losses for both types of income?
>
> Thanks,
>
> Chris
>
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.

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