Taxes Professional or Recreational status?

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  • zstevens
    SBR Hustler
    • 06-21-08
    • 69

    #1
    Taxes Professional or Recreational status?
    For tax returns if you meet the requirements for pro, do you have to claim pro, or do you have the option to stay recreational? Is it likely the IRS will then as some point make you amend your returns to file as a pro?

    Also if you file as a recreational gambler at it is your only source of income for the year what would you put for your occupation on the return??

    Thank you...
  • Cabo
    SBR Hall of Famer
    • 09-07-06
    • 5274

    #2
    Pro or non pro the IRS "wants" you to report all income.
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