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  • #11
    Originally posted by squealpiggy View Post
    Nope. Gambling is a leisure activity. You can no more write off gambling losses than you can write off the cost of a television. Winning at gambling is income. Therefore you can be taxed on it.

    There is an exception: If you can reasonably claim to be a professional gambler you can write off your losses. A bona fide professional poker player could write off poker losses as long as they can prove that playing poker provides a significant portion of their regular income. I would expect this to be a difficult sell to the IRS so you better have a tight claim.
    I write off my television and cable. Need it for my business.

    But you are right about gambling though.

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    • #12
      Originally posted by HAY-B View Post
      He denied the rumor on 1/29/14. here's a link to the article
      http://www.fighthype.com/news/article16067.html
      "Manny youre next"-Floyd

      "I never said that"-Floyd

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