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Originally posted by: corgimom
Anyone else get their tax returns back yet? For the first time since 2006, my "coin in" dictates that I have to pay taxes on my gambling. I had P & Ls from six different casinos. but we couldn't find enough "Ls" this year to cover it. I've been a frequent gambler since 1993 but this is only the third time I've had to pay taxes on my...er, hobby.
My new accountant just about fell over when she saw the amount. She suggested paying in some extra for next year to cover it (which means she doesn't understand it a bit). Her more experienced partner and I just shared a wink and a "no, I don't think that will be necessary" moment.
Lightning doesn't strike twice - at least not more than once every eight years for me. I'll take the bet that I won't be paying gambling taxes again next year since the odds are definitely in that favor.
maybe I need to call that 800 number on the back of my player's card
I'm sorry for your loss. Whoops, I mean I'm sorry for your win.
And if anyone is tempted to make up losses, remember Benford's law. Sometimes they can figure it out when you make up numbers.