Casino Losses Tax Return

[merikunFUG]

meru dhevudu bayya....... antha ela aadaru ??

[akhil4all]

Casino Loses Tax filing undadu...g lo kodutadu pedithe.....

 

last year april lo frd bacholar party ki vegas vella,  saradaaga slots adithey 25000$ tagilindhi, taxes kosi, 17200 chethilo pettadu. vegas lo enjoy chesi around 14k tho vacha. gula thiraka, weekend aadey poker night ni vegas ki shift chesa and overall ga motham kalipi 45k daaka bokka padindhi. mgm vaadu players card ni full ga munupulate chesi, only 12k win/loss lo choopistunnadu. 

 

ippudu nenu tax return file cheyyocha? maa CPA max query padutundhi, supporting docs adugutunnadu. This is my first time gambling in casino, asalu aa slots tagalakunda vuntey baagundu. experts any advice. 

 

[Reporter]

Actually alaa vachhina dabbulu ekkada save chesina undavu edho vidham ga pothai.

[samajaaragamana]

mestri aithey red's network untundhi kadha man..why db

adhi enti maya explain plzz

[Aryaa]

You can do this

You have w2 for your win. $25k

So you can match that amount for losses


I did like that once. No query from IRS

[andhravodu]

last year april lo frd bacholar party ki vegas vella,  saradaaga slots adithey 25000$ tagilindhi, taxes kosi, 17200 chethilo pettadu. vegas lo enjoy chesi around 14k tho vacha. gula thiraka, weekend aadey poker night ni vegas ki shift chesa and overall ga motham kalipi 45k daaka bokka padindhi. mgm vaadu players card ni full ga munupulate chesi, only 12k win/loss lo choopistunnadu. 

 

ippudu nenu tax return file cheyyocha? maa CPA max query padutundhi, supporting docs adugutunnadu. This is my first time gambling in casino, asalu aa slots tagalakunda vuntey baagundu. experts any advice. 

 

u can file gambling losses upto 3k every year and can do this for multiple years. Ex: 10k loss unte, continuously 4 years file chestavu 3k per year. same as with stock losses
 

[andhravodu]

Casino Loses Tax filing undadu...g lo kodutadu pedithe.....

 

wrong. casino income taxable, losses vachinapudu deduct chesukovachu

[joker]

You can do this

You have w2 for your win. $25k

So you can match that amount for losses


I did like that once. No query from IRS

entha return ravochu bhayya....

[Hitman]

TS if you have net loss with supporting documentation (casinos give you P&L statement )..you will get back all taxes paid. W2g unda?