We gamble occasionally and have received profit/loss statements from the casino?

Posted: 24-08-2010 | Author: admin | Category: United States


Now where on the tax returns do we report our losses? Also, do we need to include these copies with our return? Are there ‘special’ forms that we need to fill out? Is form 4797 needed?

Category: United States by admin

2 Responses to “We gamble occasionally and have received profit/loss statements from the casino?”

  1. lp101417, on August 25th, 2010 at 6:04 am Said:

    If there were federal withholdings YES, send it with the return if you are mailing. it should go on line 21 other income

  2. JENRD, on August 27th, 2010 at 4:22 pm Said:

    You only get to report the amount of your losses to the extent of your winnings. Meaning if you won 100,000.00 but lost 60,000.00 you can then report it to reduce the amount of taxes you owe.

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