Boyd's win/loss 2016 statements ready

These were mine for 2016;

Cal, +46
Orleans, -$646
MSS, +$650
Fremont, -$311
Gold Coast, -$14

So overall I'm about -$300 at Boyd's for 2016, which pretty good. To find your's go to the Bconnected website, then go to Tools, then win/loss statement.

 

They took about 6000 from me last year!

 

Owie!

 

What's really scary is I hit a royal for 4k on Christmas day. I had no clue I was down that much with them.

 

Orleans, GC, and the Flea-mont; loss ($2069). yikes! I don't keep detailed records, but I will submit these statements this year because I hit a handpay ($1250) on December 26th at the local casino. I hit that on $5 WOF machine bonus spin. just enough to trigger tax paperwork.

 

Congrats vegasdev, I 've never gotten a handpay period but I would gladly pay the tax or at least off-set it with my losses.

Congrats Grant on the $4000 hit!

 

the few times that I have had a hand pay were at the casinos in my home state. I have been to vegas 50+ times over 20 years and have never had one single hand pay. I don't play VP, just slots, Vegas machines are tight as a drum. I know the slots are one-armed bandits, but come on... 20 years??

 

I lost $250 total; SO just under $300. Mostly at Orleans ... at least they've sent us offers for March/April!

GG

 

I,looked at mine and overall think it is probably inaccurate. I had a profit over 1,000$ at Orleans where I had minimal play this year and a multi thousand dollar loss at MSS where I had 7,000$ in winnings on royals alone. I always take pictures of my royals so that is my confirmation of big wins. Money taken to and returned with is my documentation of losses which is fairly close to accurate. Planning to do better with retaining numbers this year.

 

There is no way to "submit" any statements when you file your return. You make ONE entry on the deduction page up to the amount reported as income on the first page.

 

MSS killed wife and I. Mostly chasing the 10 coin nickel progressive DDB by the wall near the escalators. Never could hit a premium hand other than full house and flush.

 

I never did well with anything less than quarters, so I was happy with that for a while, then I hit two royals on quarters and was upset I didn't get the $4k from playing $1. Then, I recently realized that you win $20k with a $5 game so now I'm playing that. I have a feeling this only gets worse from here...

 

While you are correct, many of the tax programs automatically call up a separate page for supporting information on entering losses. List as many losses as you want, but the bottom line is the total losses can't exceed wins. So for instance, if I had $8,000 in wins, I list every loss at every casino individually, total that, but then just carry the $8,000 allowed loss forward. On some programs you can choose whether you want the supporting details to be printed (Efiled) with your return.

Right or wrong, my theory is that showing you had many more losses then you wrote off, can't hurt and I do keep a fairly detailed record of my gaming.

 

I submit all of my paperwork to my CPA, and he returns it once he has filed my return electronically. I do realize that I could just jot down a number on a piece of paper and hand it over to my CPA, but that is not how I do it.

 

I agree, they are not completely accurate. especially if you play table games.

 

Thanks dev

I do play table games and pocket greenies / blacks on the way. They may estimate my "cash out" when I leave but it can't possibly be accurate and it doesn't come close to the profit i show on the statements.

 

I was just going by what I think is the biggest - Turbotax. Pretty sure it only asks for one number - I know that is all I ever enter. No casino(s) name, amounts, etc.

The whole thing is nuts anyways. Very few people would ever put their total "wins" on the first page anyways. Just W-2g's. Go figure that one out.

 

Turbo Tax Premium is what I use and it always calls up a separate page for additional info that can be imputed the second I click on losses.

 

Somehow I managed to be up $1 at The Cal and $1 at MSS. Not sure if that's accurate but it's possible.

 

My SO and I are both down for about 800-900 dollars for 2016. I had the feeling it was more... But I could be wrong.
In return we can go to Vegas for 8 days twice a year and not pay a penny for a room. I'll take it