How to Report Gambling Winnings and Losses
Автор: Timalyn Bowens, EA
Загружено: 2024-08-05
Просмотров: 1787
Have an IRS notice about your gambling winnings book a call with me at www.Bowenstaxsolutions.com to see if you're a good fit for us to get this resolved ASAP.
Are Gambling Winnings Taxable? -
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Do you have to report your gambling winnings on your taxes?
How do you report your gambling expenses? Can you deduct your gambling winnings from your taxes?
I'm working with a few taxpayers who are in hot water with the IRS right now for not reporting their gambling income correctly.
But I'm making this video because, within the past month, I have had tax professionals ask me questions about how to report gambling income and losses as well. If tax professionals get confused by it, that means taxpayers must be confused as well.
I hope this video clears up some things for you about how to report your gambling winnings and losses whether you are a hobby gambler or a professional.
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