How to prove gambling losses?

[duck_butter]

If I'm correct, doesn't the IRS expect you to PROVE your gambling losses if you are audited? If so, how do you prove gambling losses from B&M casinos? I play mostly live games, and keep track of my winnings and losses, but have no idea how I'd prove my losses to the IRS.

Thanks,

dB

[mrhat187]

I'm having trouble reading your post, and actually formulating a response......something distracting.

[duck_butter]

Of all the bright minds on this forum, nobody has anything to say on this? What do you live game players plan to do to prove losses if you are audited?

dB

[stormy455]

Are you keeping records of when you played, where you played, what limits you played at, who you played against? Keep a log. It should be done for each session you play. As long as it's reasonable, and updated regularly (as in each time you play) you should be okay. It's up to the IRS to prove it's not reasonable. They'll do that by looking at your bank deposits, large purchases, lifestyle, etc. I'd also keep ATM receipts from casinos, checks cashed and anything else that supports your records.

Edit: And that Avatar of yours is pretty distracting.

[Zele]

What stormy said, plus get this book.

[duck_butter]

Ok, thanks a lot for all the help. I have kept a log on how much I won or lost and where I was playing and what game. I also keep all my ATM receipts. I appreciate the input.

dB

[duck_butter]

Book has been ordered. Thanks.