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?

someone just stole your identity

:1orglaugh

10k$ losses? you're fucked:1orglaugh

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.

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

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

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

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

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

:Graucho

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.

ROFL. :1orglaugh :1orglaugh

you like making donations to the indians dont you ? :1orglaugh