Re: My Accountant: \"But how much did you lose?\"
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this question arises cause ansky is filling as a professional gambler. Non-professionals must report all winnings, but cant deduct losses (this is done on a session by session basis), whereas im fairly certain that a professionals return would look something like "total wins-total losses" you cant just say "i made xx,xxx"
i could be wrong, but thats how ive always sent my numbers
pjn
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You're sort of wrong.
Federally, (and in most states), you don't have to file as a professional gambler to deduct your losses (up to the amount of your wins).
But I think you're right about the reason he was asking the question.
My accountant was like "wtf?" when I showed him my poker profits the first year. He said that I needed to report gross winnings and deduct losses. So he basically asked me the same thing.
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