I've done so. Added 1099 into gross gaming wins "Other Income" and made a brief notation on the line description that "$xxxx in gambling-related 1099 income incl (gaming activity required)"
The returns haven't been flagged for further review/line item audit.
---In vpFREE@yahoogroups.com, <mickeycrimm@...> wrote :
In my gambling career I've gotten plenty of W2-G's but I've never received a 1099. As I understand it the W2-G's are issued for gambling wins and 1099's are issued for prizes and gifts. My question is can you write off gambling losses against 1099's.
Thanks for any responses.
Thanks for any responses.
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