The adventures & musings of an Enrolled Agent representing clients in Tax Controversy cases at the Neighborhood Christian legal clinic - Low Income Taxpayer Clinic.

Indianapolis, Indiana

Gambling Income and Expenses – Tax Requirements

Gambling Income and Expenses – Tax Requirements

Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return. Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse and dog races and casinos. Unfortunately, gambling income also includes the fair market valueRead more about Gambling Income and Expenses – Tax Requirements[…]