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keep losing tickets from the year to write off the winnings

Topic closed. 17 replies. Last post 10 years ago by DoubleDown.

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keep losing tickets from the year to write off the winning so you wouldn't have to pay taxes.....

yes [ 15 ]  [55.56%]
no [ 12 ]  [44.44%]
Total Valid Votes [ 27 ]  
Discarded Votes [ 0 ]  
LAVERNE MALONEY's avatar - smallgirl

United States
Member #1987
August 5, 2003
8968 Posts
Offline
Posted: April 11, 2007, 3:23 pm - IP Logged

I have seen people who walk around the lottery counter looking for & collecting tickets on the floor, on the shelves & even around the machines that dispense lottery scratch off tickets.

    Miss Bee's avatar - strawberry
    nashville
    United States
    Member #4990
    June 8, 2004
    1376 Posts
    Offline
    Posted: April 11, 2007, 4:50 pm - IP Logged

    The lady that does my taxed  says you are allowed to claim as losses as much as you won.

    One year at sams in tunica my profit /loss staement showed I had won 125,000.00 now this was a mistake on thier part, no wat did I win that much, so we claimed 125,000.00 in losses.

    This is what we do every year, now you cannot claim as losses more than you won, you can only break even which is fine with me. This might change if you are registered as a professional gambler.

      Avatar
      Coastal Georgia
      United States
      Member #2653
      October 30, 2003
      1866 Posts
      Offline
      Posted: April 11, 2007, 5:11 pm - IP Logged

      The lady that does my taxed  says you are allowed to claim as losses as much as you won.

      One year at sams in tunica my profit /loss staement showed I had won 125,000.00 now this was a mistake on thier part, no wat did I win that much, so we claimed 125,000.00 in losses.

      This is what we do every year, now you cannot claim as losses more than you won, you can only break even which is fine with me. This might change if you are registered as a professional gambler.

      Shhhhh...

      Be vewy vewy quiet Miss Bee ...Wink