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Meadows Win Loss Statement  Form

Meadows Win Loss Statement Form

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Video instructions and help with filling out and completing Meadows Win Loss Statement Form

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Instructions and help about win loss statements meadows

okay for this video tutorial I want to go over an example where we have a U.S taxpayer filing a 1040 and they need to disclose their gambling winnings and losses so our taxpayer here is John Q taxpayer single filing taxpayer this is for the 2022 tax year and so John took a trip to Vegas during the year did some gambling and had some winnings and losses and now he needs to report all this on his return so in addition to the return here I do have a workbook this is a wagering diary that John kept and it tracks his various bets the money he put up what he lost and so we'll go into this in more details show how this information is translated onto the return and then I do have one slide here covering some of the background and guidance on these gambling winnings and losses when it comes to reporting on your return and then more detail on the fact pattern itself so if we start here with the slide the gambling winnings and losses reported on the 1040 they have to be separately stated

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