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Old 02-22-2006, 09:38 PM
wax42 wax42 is offline
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Default tax q - incomplete records

For 2005, I have a 1 month period where I do not have session by session data (the hand histories were lost), but I have session data for the rest of the year. I do know my net for that 1 month period, however. My question is - what should I do here? Should I just report the net for that period? Should I invent sessions that net to the correct amount and have a reasonable gross (I guess I can estimate my gross based on the ratio of gross/net for the rest of the year)? If the latter, should I make it clear that I'm estimating and that I don't have the records, or should I try and make it look real? Thanks.
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Old 02-22-2006, 09:50 PM
Niediam Niediam is offline
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Default Re: tax q - incomplete records

You should talk to a knowledgable CPA of course.

But I'd have no problem just making a reasonable estimate. It won't even matter unless you get audited.
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