Originally Posted by
Auto Donk
generally speaking, if that's all you got, pay the taxes. to be a professional entitled to write it off, it has to be a primary source of your income. some gambler rollin into a casino a few times a year will not qualify. it has to be a part of your livelihood, and if it is, you can deduct the expenses related to that profession (all buy ins, travel, hotels, etc.) against your winnings. but if you're only an occasional gambler, you can't deduct your losses from one trip versus your winnings on another -- at best you can offset your winnings from a particular trny with the expenses directly related to that trny (your buy in, gas to go play it, accomodations on that trip, meals, etc.) if it's your livelihood, you can deduct all those expenses for the year vs. your winnings for the year..... just like any other business/profession.