My Accountant: "But how much did you lose?"

[The Stranger]

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I don't even get the 'But how much did you lose?' question. I don't know what they are trying to find out.

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Best I can tell, this comes from people who gamble recreationally, and how they think.

Like your neighbor lady might play scratch lottery tickets, and get all excited because she got a ticket that won $50. She has $50 that she didn't have before she bought the ticket, so she "won," without taking into account all the losing tickets she bought.

So if you tell someone who thinks like that about winning $500 or whatever at the B&M, the question "but how much did you lose?" doesn't make sense to you, because if you buy in for $600, and cash out for $1,100 that's how you came up with the "I won $500." But to them gambling is slots or lottery or whatever, so the concept is hard for them to grasp.

The accountant should have gotten this though, especially after asking whether the xxxxx was gross or net.

[onoble]

After you laughed out loud, in his face, what did he say?

[cnfuzzd]

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

[shaniac]

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So, I saw an accountant yesterday. We were going through records and he asks how much I have made in profit in 2006, I say "xxxxx" whatever, and he replies "ok so is that winnings or profit though?"

me: "oh that's profit..."

him: "right ok. But how much did you lose then?" (quoted verbatim)

It was very embarrassing as I started laughing outloud.. in his face.

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You sure he wasn't asking "but how much did you lose (wink wink)" by way of offering an opening for you to mention that craps session late night in Casino du Montreal when you went off for like 80K?

[yvesaint]

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After you laughed out loud, in his face, what did he say?

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MONEY MONEY DREIDEL HANNUKAH SCHMUCK CHALLAH DREIDEL

[joker122]

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but he needs to know "how much did you lose" for your tax deduction, right?

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that's what i thought...and so i didn't find it as LOLable as everyone else.

[SomethingClever]

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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.

[Scary_Tiger]

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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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Other way around, amateurs have to report gross wins and losses, while professionals just report net.

[Joe O]

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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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Yeah but then he should be asking "How much did you win?" first.

[furyshade]

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After you laughed out loud, in his face, what did he say?

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MONEY MONEY DREIDEL HANNUKAH SCHMUCK CHALLAH DREIDEL

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i dont even know if yves is actually being racist/antisemitic/sexist/etc. anymore