Comments on: Taxing Issues for Gamblers

By: Kristin K Bunde

Kristin K Bunde — Fri, 25 Dec 2020 14:45:17 +0000

Curious, if you are willing to share the 529 issue. Our children all have the blessing of 529’s for their college educations which has allowed them to go where they want without incurring debt. DS25 was able to cover Bachelor’s & Master’s. DD covered Bachelor’s & has a nice chunk left if she get’s her Master’s. DS20 decided on a state school & his 529 will be shockingly healthy for grad school plus plenty left over for his own children one day.
I have kept methodical records of their undergrad expenses, but the grandparents turn the management over the children at that point, so I’m not sure of my son’s record keeping (tho he was TOLD to keep those records).
Just curious what the issue is that alerted the IRS; again, if you are willing to share.
Thanks!

By: Thomas Bertelsen

Thomas Bertelsen — Fri, 18 Dec 2020 02:40:13 +0000

They will go after honest people before they roll up the worst. We need people like you to show us the way.

By: gary

gary — Thu, 17 Dec 2020 23:13:10 +0000

I echo recommending Russ Fox. He was a leader of ESCARGOT,
a Socal poker gathering ~20 plus years ago. And he played
p0ker much better than I did 🙂
Gary

By: Llew

Llew — Tue, 15 Dec 2020 15:48:40 +0000

Loved your remarks about Russell Fox. In addition to being a tax guru, Russ is one helluva poker player.
I’ve known Russ for many years. He is one of the organizers of BARGE, an annual Las Vegas gathering of poker players, mostly amateurs, although some noted pros have attended and/or come from our ranks.
So glad you are still contributing to the LVA, Jean. Stay safe and well