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Question: Win Loss Statement

Posted: Tue Mar 31, 2009 6:18 pm
by spxChrome
What exactly does a Win Loss Statement include.  I assume it includes coin in and coin out as well as hand pays and W2's?
 
Or is it just Coin In Coin Out.  Please say it DOES include w2's?  lol

Re: Question: Win Loss Statement

Posted: Tue Mar 31, 2009 7:30 pm
by oej719
All the above.

Re: Question: Win Loss Statement

Posted: Tue Mar 31, 2009 7:33 pm
by cddenver
What's shown on a won/loss statement varies by casino, there's no one standard format they're required to follow.
 
Some casinos will have highly detailed statements showing not only total $'s won/lost, but a list of taxable winners and dates.  They'll also show  different cash/non-cash comps or prizes.  Sounds like that's what you're looking for.   Other places have very simple statements showing little more than coin-in/out.  The cheesier places here in CO will just have a slot club employee pull out a blank form, call up your account info on the screen, and simply write a few numbers on the form.  Depending on the particular casino, you'll either get a statement on the spot or have one mailed to you.
 
From your question it sounds like you've misplaced a W-2G or two.  Does anyone know if you can request copies from a casino, or are you SOL?  I wouldn't think that the IRS would accept taxable dollars shown on a casino won/loss statement as a substitute for one or more W-2G's; I'd think they'd want the actual W-2Gs.  That would be if you file a paper return, if you e-file and have a casino won/loss statement showing detailed taxable info (such as transaction #) you'd be able to use that.  But I've never seen a casino won/loss statement that detailed from any of the places I play at.

Re: Question: Win Loss Statement

Posted: Tue Mar 31, 2009 9:08 pm
by Tedlark
cd I'm pretty sure you can request a copy of a W-2G from the casino and they should be able to generate one pretty easily because they still have a copy of the original as it is like a 4 or 5 part form.

Re: Question: Win Loss Statement

Posted: Tue Mar 31, 2009 9:36 pm
by cddenver
Thanks, Ted.  Do you know if they can do it on the spot?  I've never had to do it.  Spx sounds like he's getting down to crunch time on taxes. 

Re: Question: Win Loss Statement

Posted: Mon May 11, 2009 9:14 pm
by spxChrome
I have all my W2's I just wondered if a Win/Loss includes Handpays.  They usually break them down my month.  But most say Coin In and Coin Out.  But I wonder if Coin Out includes the hand pays or just tickets cashed out.

Re: Question: Win Loss Statement

Posted: Mon May 11, 2009 11:33 pm
by Casino Knight
Your win/loss statement is based on whats recorded when you use your players card.  No card no win/loss statement. Players card = Everything you put in and take out.

Re: Question: Win Loss Statement

Posted: Sun May 17, 2009 12:23 am
by vdpkr557
Beware, as far as the IRS is concerned a win loss statement is not an acceptable "record" for use in deducting losses from wins.  The IRS requires a daily log which must include the following. 1.date  2.location  3.game played(inc. machine # if applicable)  4.amt. won or lost  5.people you were with    But dont take my word for it, there are many good books dealing with gambling and taxes.  By the way in 27 years as a professional I have never gotten a win loss statement even close to accurate.