Thread: Question concerning states where you can't deduct gambling losses
View Single Post
  #2  
Old 12-21-2006, 06:17 PM
Lottery Larry Lottery Larry is offline
Senior Member
  
Join Date: Jun 2003
Location: Home Poker in da HOOWWSSS!
Posts: 6,198
Default Re: Question concerning states where you can\'t deduct gambling losses
[ QUOTE ]
So if your winning sessions total $100,000, and your losing sessions total $95,000, you have to pay taxes on $100,000. In MA this means you'd be paying $5300 in taxes on $5000 of income.

I file as a pro, so this doesn't affect me directly, but I'm curious:

1. Do people actually file correctly in these cases?

[/ QUOTE ]

This seems like a fairly obvious (and therefore pointless) question.

Would YOU file in a manner that caused this to happen?
Reply With Quote