Originally Posted by
QuietLion
I'm still not sure why you say you owe taxes. Table game wins are not reported to the IRS (except for jackpots of 300-1 odds or longer). Even if you are the only big-chip player at the table and the pit boss is able to calculate your true result from the chip inventory, who is going to argue with you if you report your session results net of tips? While it's not spelled out in the tax code, I imagine there are very few people who voluntarily add the amount they tipped to their win/loss entry in their diary. Most people don't even keep a diary.
If you're talking about the casino year-end win/loss report, that is not given to the IRS and is not considered accurate for tax purposes.
There are many ways the tax code is unpleasant for gamblers. It seems to me like you're creating a new one where you don't need to.
QL
Because if I have a w4g from a 300 table win or a $1200 slot win I need paperwork to offset the win.
If I claim that my 10k in Jackpots was washed by my 10k in table losses and am audited and show supporting evidence stating my win/loss from that casino was not a loss of 10k but a win of 3k I'm in all sorts of trouble with the IRS.
Once the casino reports, I need further evidence from them to show its negated or else I have to pay.