21+3 Tournaments

Taxes on Gambling

Unless you are a knowledgeable CPA and prepare your own tax returns, my opinion is not to base your tax returns on what you read in a public forum such as this. Treat gambling wins/losses as you would any other earned income/deductions, submit the information to a professional/certified tax preparer. I recall public forums promoting tech stocks a few years ago and the people that based their investments on that advise took a bath. I don't rewire my home or prepare my tax return, I leave that to respective professionals.