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Old 05-05-2009, 02:44 PM
docicu3 docicu3 is offline
The Curragh
 
Join Date: Jun 2006
Posts: 2,778
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Quote:
Originally Posted by Dunbar
Rupert, this is true only if you itemize deductions (or if you file Sch. C as a professional gambler). If you take the standard deduction, you are screwed.

http://www.irs.gov/taxtopics/tc419.html

--Dunbar
Why would you have to list yourself as a professional gambler? I was unaware that you had to list an occupation to be able to offset your capital gains from gambling. I thought you were pretty safe keeping your losing tickets and/or your logs from ADW's to document losses for evidence if your audited.
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