Video Poker Logs for Claiming Losses with IRS

[BillyJoe]

Billy, I would think your IRS auditor wasnt on top of his game and you got lucky. What makes them believe you never played without a card or while you hadnt inserted it properly? Does it make sense that theyd accept what could well be incomplete casino statements over the sworn written word of the taxpayer being auditor?
BS, when I signed my tax return, I already swore to its accuracy. No additional swearing is required when you are asked to provide supporting documentation to what you have already sworn to be accurate.  

[moneyla]

Several years ago I erred and did not include in our gross winnings an $8,000 royal that my wife hit.  We got a bill from the IRS. I wrote a note to the IRS using a Bic Pen... hand written... that even though we forgot to include the $8,000 in our gross winnings, we still had losses to offset, and for that reason we had no tax liability. About four weeks later we got a letter from the IRS cancelling the bill for the taxes on the $8,000 win. They asked for no supporting documentation. About ten years ago I went through a TCMP audit, the big daddy of audits.  They looked at everything except for gambling wins/losses.  When I asked why, they said that unless they have a report of a single W2G of a million or more (note: SNGLE W2G) they assume you lost money gambling.

[BillyJoe]

About ten years ago I went through a TCMP audit, the big daddy of audits.  They looked at everything except for gambling wins/losses.  When I asked why, they said that unless they have a report of a single W2G of a million or more (note: SNGLE W2G) they assume you lost money gambling.
Amazingly correct on their part, unfortunately, in most cases.

[backsider]

[QUOTE=backsider]
Billy, I would think your IRS auditor wasnt on top of his game and you got lucky. What makes them believe you never played without a card or while you hadnt inserted it properly? Does it make sense that theyd accept what could well be incomplete casino statements over the sworn written word of the taxpayer being auditor?
BS, when I signed my tax return, I already swore to its accuracy. No additional swearing is required when you are asked to provide supporting documentation to what you have already sworn to be accurate.  [/QUOTE]

Thats right Billy. So theres no viable reason for them to rely on anything else other than what you yourself provide. Third party info gathered electronically is worthless unless the third partys info also gets audited, AND they sign a statement saying you absolutely never gambled without using a players card. Thats what makes sense to me with regards to those casino statements.

[backsider]

Several years ago I erred and did not include in our gross winnings an $8,000 royal that my wife hit.  We got a bill from the IRS. I wrote a note to the IRS using a Bic Pen... hand written... that even though we forgot to include the $8,000 in our gross winnings, we still had losses to offset, and for that reason we had no tax liability. About four weeks later we got a letter from the IRS cancelling the bill for the taxes on the $8,000 win. They asked for no supporting documentation. About ten years ago I went through a TCMP audit, the big daddy of audits.  They looked at everything except for gambling wins/losses.  When I asked why, they said that unless they have a report of a single W2G of a million or more (note: SNGLE W2G) they assume you lost money gambling.

monyla, you mean an extra $8000 in income had no adverse effect on your AGI?

[Quad Deuces]

It doesn't surprise me in the least that backsider shills for the IRS too.

[backsider]

It doesn't surprise me in the least that backsider shills for the IRS too.

[moneyla]

monyla, you mean an extra $8000 in income had no adverse effect on your AGI?  It's been a long time since I got to deduct anything on my Schedule A.  But since I am a business owner, most of my deductions are on my Schedule C.  And schedule C deductions are actually worth more than Sched A deductions.

[BillyJoe]

[QUOTE=billyjoe]
[QUOTE=backsider]
Billy, I would think your IRS auditor wasnt on top of his game and you got lucky. What makes them believe you never played without a card or while you hadnt inserted it properly? Does it make sense that theyd accept what could well be incomplete casino statements over the sworn written word of the taxpayer being auditor?

BS, when I signed my tax return, I already swore to its accuracy. No additional swearing is required when you are asked to provide supporting documentation to what you have already sworn to be accurate.  [/QUOTE]

Thats right Billy. So theres no viable reason for them to rely on anything else other than what you yourself provide. Third party info gathered electronically is worthless unless the third partys info also gets audited, AND they sign a statement saying you absolutely never gambled without using a players card. Thats what makes sense to me with regards to those casino statements.[/QUOTE]
Sorry, BS, but that is just not true. On the casino's W/L statements, they disclaim any accuracy of the statements with regard to IRS deductions. You, as the individual being audited, are responsible for what you provide the IRS as evidence. If you provide these statements, you are taking the responsibility for their accuracy, just as you are responsible for the accuracy of any log that you would provide. If the IRS chooses to accept them for your particular return, you are still held responsible for the accuracy - no one else.

[backsider]

I see, they have a disclaimer on them. We agree the taxpayer is responsible for the accuracy of what we provide, including whats in those statements if we choose to provide them. They accepted yours, but Ive seen others say they rejected them because of what I wrote in my last post. I guess the auditors are like a box of chocolates. You never know.