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  Poker - Hit the jackpot but need some INFO
 
  #1  
09-04-2006, 9:54 PM
bigblindspecial
New Member
 
Posts: 1
Hit the jackpot but need some INFO

I recently hit the jackpot at a casino in southern California. I got 60k and the winning hand got 30K. Anyways I have an important question and this goes for people who have hit the jackpot or personally know someone that has. After tipping everyone I left the remainder of money with the casino. The reason i did this is because i dont want to pay taxes on my jackpot, instead I can claim it as a loss. I plan on withdrawing little by little and keeping all the receipts and when tax time comes around claim a loss and use the receipts as proof. Ive witness someone lose 10K in one night so it's possible to lose 60K gambling in one year. Is there anything else the IRS is looking for besides the receipts to show proof? I am planning to use the 12K to put my daughter through college. I researched and havent found a definitive answer so any feedback is helpful.
 

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  #2  
09-04-2006, 11:18 PM
Alon Ipser
Felony Poker Player
 
Location: Washington
Plays at: Stars
Posts: 1,307
Dude, pay the taxes. It's probably a lot cheaper than what you lose continually going to the casino to get a little at a time.
  #3  
09-04-2006, 11:23 PM
Dennis C
CardsChat Elite
 
Location: Cols. OHIO
Plays at: Stars
Likes: any
Posts: 1,795
I'm going to agree with Alon on this one, but I have differnt reasons. Three letters........I.R.S
 

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