I lost 50,000 gambling
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It’s been two years since i’ve been in a casino. Before that over the course of 3 years i was in and out of the casinos on a regular basis i ended up losing over $150,000 with the final $40,000 in one night in vegas. After that final loss i was really down to my last dollars and knew something had to change. For example, bill remos, a coca-cola delivery driver in chicago, gambled for fun and got lucky: he won $50,000 in a single game of blackjack. When remos filed his taxes for the year he didn't report the $50,000 win as income. Why? he knew he had at least $50,000 in gambling losses during the year. It feels like i lost $50,000 even though i never had it in the first place. At the end of january, i had nearly 10x what i put into the stock market because of all this gamestop shit. Then, they removed the ability to buy, it crashed, and i sold for hardly any profit. Bear in mind the irs may come calling if you report $1,000 of gambling income and the casino reports a $2,000 jackpot on form w-2g. The irs may ask for detailed, contemporaneous records proving your income. Taxpayers have lost court cases over poor or inadequate recordkeeping. See: how to pay taxes on gambling winnings and losses. Gambling losses and taxes (tcja) to further clarify how gambling losses and taxes work for professionals under the new tcja rules consider this example. A professional gambler amasses $100,000 in gambling earnings in a year. She also has $70,000 in losses, and $50,000 in non-wagering expenses. It’s been two years since i’ve been in a casino. Before that over the course of 3 years i was in and out of the casinos on a regular basis i ended up losing over $150,000 with the final $40,000 in one night in vegas. After that final loss i was really down to my last dollars and knew something had to change However, if the casino requires it, you normally just have to deposit the minimum amount to clear the bonus, i lost 50,000 gambling.
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I lost 50,000 gambling, a bar slot voucher machine
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