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Tax/Win Loss Statement Question

Discussion in 'Misc. Vegas Chat' started by Flopitbaby, Jan 29, 2013.

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  1. jpw711

    jpw711 Is that your cat?

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    I question if a computer generated printout would be allowed or would the auditor want to see handwritten logs. Though anything is better than nothing at audit time.
     
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  2. Mitkraft

    Mitkraft VIP Whale

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    That conundrum always cracks me up:

    Auditor: "Oh, I'm sorry, that computer printout from the casino that we can verify won't cut it, I'm going to need to see hand written notes that you scribbled in a spiral notebook that we will have to take your word for."

    :thumbsup: LOL

    Edited to add: Not that I doubt that that is indeed the way it is. That makes it even more funny!
     
  3. BeeeJay

    BeeeJay President of The Red Lobster Hostess Satisfaction

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    A computer generated printout is no different than a handwritten log for audit purposes.

    It is a funny point though. I can see someone who hasn't ever dealt with the IRS in an audit situation using a bunch of different colored pens and scuffing up the paper to make it look aged.:evillaugh

    That isn't at all how it works, they would prefer you provide everything electronically if possible.

    But remember, they aren't "taking your word" on those diaries/logs, they also require proof in the form of bank receipt of some sort.
     
  4. BeeeJay

    BeeeJay President of The Red Lobster Hostess Satisfaction

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    It might be helpful for some people to equate the gambling loss requirements to the records many are required to submit for Meals & Expense reimbursements to their employers. The employer requirements are driven by the tax rules, and those rules are pretty similar.
     
  5. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    Thanks BeeeJay for that detailed explanation, especially for a hot topic this time of year :thumbsup:

    Closing this thread up as the question was definitively answered.
     
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