Comments on: Tax Time https://www.lasvegasadvisor.com/frugal-vegas/tax-time-2/ A Las Vegas Advisor Blog from the "Queen of Comps" Fri, 10 Apr 2020 07:43:17 +0000 hourly 1 https://wordpress.org/?v=4.7.4 By: DanMin https://www.lasvegasadvisor.com/frugal-vegas/tax-time-2/comment-page-1/#comment-72641 Thu, 21 Feb 2019 01:27:16 +0000 https://www.lasvegasadvisor.com/frugal-vegas/?p=58623#comment-72641 Thank You Jean.
Regarding the reporting of win/loss your readers may find IRS Revenue Procedure 77-29, Section 3 instructive.

]]> By: Kevin Lewis https://www.lasvegasadvisor.com/frugal-vegas/tax-time-2/comment-page-1/#comment-72635 Fri, 15 Feb 2019 20:39:26 +0000 https://www.lasvegasadvisor.com/frugal-vegas/?p=58623#comment-72635 Did you ever figure out, for any year, what the actual EV of your cumulative play was? I’m guessing that it was negative the last few years. Of course, I’m talking about inherent EV, excluding comps, mailers, free play, and other goodies.

In fact, do you factor those into your yearly grand total? I know that the IRS is fuzzy on whether comps and free play are taxable income. In the absence of guidelines either way, I simply report wins and losses from slot club annual statements. But if I factored in the fair cash value of free meals and room comps, not to mention free play and casino “gifts,” I suspect that my modest losing year would actually be a winning year. Though like you, my actual cash results were a bit better than could have been expected.

]]> By: Mark Beadling https://www.lasvegasadvisor.com/frugal-vegas/tax-time-2/comment-page-1/#comment-72634 Fri, 15 Feb 2019 16:30:21 +0000 https://www.lasvegasadvisor.com/frugal-vegas/?p=58623#comment-72634 Love hearing About you’re statistics. I had a come back too in December which is not usual. For no statistical reason I usually have a bad December. Glad I didn’t heed my own warning! I came out ahead 6k with an 8k royal six hands in on 2$ NSUD at the local Indian casino. That was on December 29th. As soon as I got paid I called it quits for 2018.

]]> By: Dennis A. https://www.lasvegasadvisor.com/frugal-vegas/tax-time-2/comment-page-1/#comment-72632 Fri, 15 Feb 2019 14:04:35 +0000 https://www.lasvegasadvisor.com/frugal-vegas/?p=58623#comment-72632 Hello Jean, I really enjoyed your tax time post. Keeping extensive records like you have and then sharing your wins/losses with your readers is very valuable and interesting to us.
I know what you mean when it comes to lower energy level. We used to stay on the strip in the early 80’s and gamble around 10-12 hours a day. Now, not so much. Keep up the good work, I enjoy your writing!

]]> By: B J Sholly https://www.lasvegasadvisor.com/frugal-vegas/tax-time-2/comment-page-1/#comment-72631 Fri, 15 Feb 2019 12:11:52 +0000 https://www.lasvegasadvisor.com/frugal-vegas/?p=58623#comment-72631 Hi, love to read your posts. I heard that Railroad Pass casino offers a $5.50 BUFFET from Monday to Thursday. When I visit Las Vegas, how do I find out about these kinds of deals? Thanks for your time

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