Do i need to do a P&L for casino losses? - GoFuckYourself.com

lil2rich4u2 · 05-09-2004, 11:34 AM

They came up and explained that it is policy to get my social security number if my bets exceed $10k

i gave it to them.

now will i get a statement from them? Or do i need to keep my own records?

detoxed · 05-09-2004, 11:39 AM

someone just stole your identity

lil2rich4u2 · 05-09-2004, 11:41 AM

Quote:

Originally posted by detoxed
someone just stole your identity

strobi · 05-09-2004, 11:44 AM

10k$ losses? you're fucked

HowlingWulf · 05-09-2004, 11:55 AM

It's only their policy to track you better. When it happened to me I talked to a casino host and they said they don't report anything to the IRS and don't sent out a statement. This was at Foxwoods, CT so _maybe_ it's different elsewhere. Call them up and ask. As far as I know it's you who should keep track of wins vs losses and report accordingly.

BradM · 05-09-2004, 12:47 PM

RICH!!!! Guess who's back... back again

lil2rich4u2 · 05-09-2004, 08:06 PM

Quote:

Originally posted by HowlingWulf
It's only their policy to track you better. When it happened to me I talked to a casino host and they said they don't report anything to the IRS and don't sent out a statement. This was at Foxwoods, CT so _maybe_ it's different elsewhere. Call them up and ask. As far as I know it's you who should keep track of wins vs losses and report accordingly.

yes mine is at foxwoods also

Im going back in 2 weeks with twice that much to make back my money ....

wish me luck lol

lil2rich4u2 · 05-09-2004, 08:06 PM

PS, wtf do i have to do to get a room comp???

$10k down and i dont get a room? sheesh

torrey · 05-09-2004, 08:08 PM

Quote:

Originally posted by lil2rich4u2
PS, wtf do i have to do to get a room comp???

$10k down and i dont get a room? sheesh

they should have offered one if you lost 10k, if not tell the pit boss, 90% of the time they will deliver in minutes

pornstar2pac · 05-09-2004, 08:09 PM

Quote:

Originally posted by lil2rich4u2
PS, wtf do i have to do to get a room comp???

$10k down and i dont get a room? sheesh

you ask before you blow the money. you tell them you are a fool and have $10k to waste, and you get the penthouse suite

05-09-2004, 08:13 PM

You have to report your gambling winnings in the U.S.? You should take a trip to Windsor, Ontario next time instead.

StacyCat · 05-09-2004, 09:50 PM

You have to report any winnings over 1200. You can deduct losses up to the amount of your winnings (so, if you won 10k and lost 10k, you dont have any winnings). But, you cant deduct straight losses, so if you only lose 10k, you are fucked.

EviLGuY · 05-09-2004, 10:41 PM

Quote:

Originally posted by detoxed
someone just stole your identity

ROFL.

Illicit · 05-09-2004, 10:43 PM

Quote:

Originally posted by lil2rich4u2
yes mine is at foxwoods also

Im going back in 2 weeks with twice that much to make back my money ....

wish me luck lol

you like making donations to the indians dont you ?

05-09-2004, 11:34 AM	#1
lil2rich4u2 ICQ: 175171926 Join Date: Oct 2002 Location: New York, NY Posts: 11,046	Do i need to do a P&L for casino losses? They came up and explained that it is policy to get my social security number if my bets exceed $10k i gave it to them. now will i get a statement from them? Or do i need to keep my own records? __________________ HEY!! Unbeatable hosting! Customer service is top notch! --> ISPrime <-- Do a search on any board, their reputation is rock solid .. for years!!

05-09-2004, 11:55 AM	#5
HowlingWulf Confirmed User Join Date: Nov 2001 Posts: 1,662	It's only their policy to track you better. When it happened to me I talked to a casino host and they said they don't report anything to the IRS and don't sent out a statement. This was at Foxwoods, CT so _maybe_ it's different elsewhere. Call them up and ask. As far as I know it's you who should keep track of wins vs losses and report accordingly. __________________ WP Porn directory/review theme Maddos $35. webmaster AT howling-wulf.com

05-09-2004, 08:06 PM	#8
lil2rich4u2 ICQ: 175171926 Join Date: Oct 2002 Location: New York, NY Posts: 11,046	PS, wtf do i have to do to get a room comp??? $10k down and i dont get a room? sheesh __________________ HEY!! Unbeatable hosting! Customer service is top notch! --> ISPrime <-- Do a search on any board, their reputation is rock solid .. for years!!

05-09-2004, 11:39 AM	#2
detoxed vip member Join Date: Jan 2003 Posts: 17,798	someone just stole your identity

05-09-2004, 11:44 AM	#4
strobi Confirmed User Join Date: Nov 2002 Location: Belgium Posts: 7,383	10k$ losses? you're fucked

05-09-2004, 12:47 PM	#6
BradM Confirmed User Join Date: Dec 2003 Location: 1123,6536,5231 Posts: 3,397	RICH!!!! Guess who's back... back again

05-09-2004, 08:13 PM	#11
evildick Guest Posts: n/a	You have to report your gambling winnings in the U.S.? You should take a trip to Windsor, Ontario next time instead.

05-09-2004, 09:50 PM	#12
StacyCat Confirmed User Join Date: May 2002 Location: Texas Posts: 1,167	You have to report any winnings over 1200. You can deduct losses up to the amount of your winnings (so, if you won 10k and lost 10k, you dont have any winnings). But, you cant deduct straight losses, so if you only lose 10k, you are fucked.