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Win Loss Statement Edgewater Casino Form

Win Loss Statement Edgewater Casino Form

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during this past year did you fly over to vegas and gamble well there's a small chance that you play those lava machines and you hit the jackpot if that was you you probably got a w2g and now you're gonna have to report those winnings on your tax return now there's actually something you can do about it you can claim gambling losses on your tax return this is how it works let's say you went to a liquor store and you bought a lot of ticket and won thirty thousand dollars with those winnings you flew over to las vegas and you lost twenty five thousand dollars playing the slots now you only have to report five thousand dollars on your tax return instead of thirty thousand dollars on your tax return with that being said you can't claim gambling losses and hit the negative on your tax return so if you're a gambaholic and you lost a hundred thousand dollars in vegas you can't claim negative hundred thousand dollars or your tax returns y

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