report you casino gambling wins when you sign that paper

[MadJack]

in 2005 i got 3rd in some tourney at caesars indiana. $1600 and change. forgot to report it.

just got a certified letter from uncle sam yesterday adjusting my return for that year plus penalties and interest. i owe them $794 extra

 

[dawgball]

Is that reported as regular income?

 

[MadJack]

Is that reported as regular income?

gambling income, it says on the form.

 

[MadJack]

oh, how do you report it? hell if i know. everything goes to the accountant, i just sign things. the only reason i even opened the letter yesterday was because it was certified otherwise it goes in a big envelope and is mailed to him unopened.

 

[AR182]

in 2005 i got 3rd in some tourney at caesars indiana. $1600 and change. forgot to report it.

just got a certified letter from uncle sam yesterday adjusting my return for that year plus penalties and interest. i owe them $794 extra

i wouldn't wait to pay them..

 

[SixFive]

in 2005 i got 3rd in some tourney at caesars indiana. $1600 and change. forgot to report it.

just got a certified letter from uncle sam yesterday adjusting my return for that year plus penalties and interest. i owe them $794 extra

took them this long to let you know? :wtf:

 

[MadJack]

took them this long to let you know? :wtf:

yup, they're really on top of things :mj07:

 

[SixFive]

yup, they're really on top of things :mj07:

can you imagine who has the job of going through those old returns?? That must be boring as hell!

 

[yyz]

Now you got almost nothing for the win!


Sixfive, can you imagine how much shit they have to pour over year after year?

 

[BobbyBlueChip]

Jack - Talk to your accountant - You can still probably just amend your return to include the gambling winnings and also exclude losses (provided that you have proof)

or just pay the money and let the headache go away and take solace in the fact that you're helping erase the deficit

 

[MadJack]

Jack - Talk to your accountant - You can still probably just amend your return to include the gambling winnings and also exclude losses (provided that you have proof)

or just pay the money and let the headache go away and take solace in the fact that you're helping erase the deficit

i paid it. can't prove losses and don't need to rock the boat. i won, forgot to report it, they corrected it without any hassle. done.

thanks

 

[DOGS THAT BARK]

Look on bright side Jack--they could have flagged you and ordered full blown audit--as careful as we try to be we always make mistakes--if/when I or my accountant make one- hope it is as easy to rectify as letter and request--can't think of anything more antimidating than audit. I never take write off business meals but keep yearly receipts in envelope as extra cushion in case I ever mess up elsewhere--my accountant says I'm nuts for not taking them--but peace of mind is worth it to me.

 

[dunclock]

Jack - Talk to your accountant - You can still probably just amend your return to include the gambling winnings and also exclude losses (provided that you have proof)

or just pay the money and let the headache go away and take solace in the fact that you're helping erase the deficit

What, are you an accountant or something:shrug:

:mj07:

 

[BobbyBlueChip]

What, are you an accountant or something:shrug:

:mj07:

I don't know how to respond, many people have made fun of my line of work, but not many have pulled our an "mj07"

 

[dunclock]

I don't know how to respond, many people have made fun of my line of work, but not many have pulled our an "mj07"

Just bustin on you Bob, now go get you some sleep!

Congrats again:00hour