Monday, June 5, 2017
[vpFREE] Re: Gambling and 1099's
I think that issue is in "Tax Help for Gamblers". If you gamble you really need that book, I know that sounds like an ad, but you really do need that book. I think with a 1099misc they may challenge you, at which point you have to prove that you had to gamble (risk money) to get that "free gift". The problem is in the use of "free gift" by the casino industry when the truth is very little is actually free at a casino. There is stuff that is actually free, you just have to line up to get it, but most of it is small stuff, "swag", and hopefully they don't submit paperwork for it. Drawings with big prizes and "free entries" can be a problem.
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Posted by: nightoftheiguana2000@yahoo.com
vpFREE Links: http://www.west-point.org/users/usma1955/20228/V/Links.htm
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