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Win loss statements

Discussion in 'Misc. Vegas Chat' started by Miller12pack, Nov 23, 2016.

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  1. Miller12pack

    Miller12pack High-Roller

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    Can I call casinos after Jan. 1st for my 2016 win loss statements? Do they send them out, or do I have to do it online?
     
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  2. greekjim

    greekjim High-Roller

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    I think with CET it will be on your total rewards page online
     
  3. Snidely

    Snidely VIP Whale

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    TR and Boyds do it online. You might have to wait until a few weeks after Jan. 1st.
     
  4. NewOrleansSlimm

    NewOrleansSlimm VIP Whale

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    total rewards does it around february 1st...if you go to the website and choose 2015 and open that up, change the 2015 to 2016 and it will give you up to date win/loss without waiting
     
  5. Joe

    Joe VIP Whale

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    Yes, as said Boyd is available on-line. You probably know this but just in case. The IRS does not accept win/loss statements as proof if you should be audited. You must have a very detailed gambling log for proof.
     
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  6. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    AFAIK, you cannot call on the phone. If the Player's Club has it online, you can do it there, but for other clubs, you need to fill out a form.
     
  7. Snidely

    Snidely VIP Whale

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    People have said they used their W/L statements in audits and everything was peachy.

    Just defies logic that IRS would rather accept a made up log from the auditee than a W/L statement from a 3rd party.
     
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  8. nostresshere

    nostresshere Mr. Anti Debit Card

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    And of course you need NOTHING unless you are audited. For those of us that end the year at a loss - it does not matter. Just take your wins and deduct an equal amount of losses.

    Seems like they show up online fairly timely - sooner than most companies send out their W-2s.
     
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  9. Iceicecool

    Iceicecool Low-Roller

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    MLife always has an up to date win/loss statement online.
     
  10. LVHooked

    LVHooked High-Roller

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    I've been away from the board a bit, but didn't we decide last year that someone who's name begins with S and ends with an A. Handled win loss statements along with a few other minor things on the board. ROTFLMAO

    Ken made me do it.......
     
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  11. bubbakitty

    bubbakitty Doing retirement again and happily so....

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    Indulge for a moment. You hit 3 jackpots over the year--1500-2000-3500 for 7,000 total winnings. You get win/loss statements via Internet , copy to printer and this is legal documentation. I have to agree. There is a thing about removing your card when you have a bonus spin situation or something dealt and removal of the card erases play. If it is true when a card is inserted and money paid and played, doesn't the initial vague involvement of gaming initiate an action which records the completion of that action; whether the card is removed after the action is begun or not. This information is compiled for the year and put in the form of a letter.

    The casino wants to know everything so I think they track your initiation of play and results carefully. Sharing the bottom results will not impact their acquisition process. Think. If you play without a card and lose you have lost deductions. If you mostly win less than taxable amount you shouldnt have a players card or record of anything.

    Another example, playing on my card 1000$ bj hand. 1st base. BJ. Go to restroom and designate friend to collect. Come back and wave as we exit. Who is credited for the win on w/l statements. I think that apples to vp, slots, table etc. I am not a financial advisor nor affiliated with irs. Ha ha that is funny
     
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  12. nostresshere

    nostresshere Mr. Anti Debit Card

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    Legal or not all depends on the particular auditor from what I can gather. We can all argue this until the cows come home, or fly over the moon, whichever comes first.

    In reality, you do not need to print anything out. Nothing is required to file your taxes. Nothing.
     
  13. thecarve

    thecarve Misanthrope

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    I believe your only option with Cosmo is to call and request the W/L statement. It'll arrive via USPS a few days later.
     
  14. vegasdev

    vegasdev VIP Whale

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    LOL. never thought of it that way. you make a good point. logic and government in the same sentence, not so much. however I don't trust the IRS. if audited, the auditor could just say the win/loss statement and/or the made up log are not substantial proof. been a while since I have had a winning year. I don't keep up with gambling records, so if I do have a big win, all I will have is the win/loss statements and hope for the best.
     
  15. Chuck2009x

    Chuck2009x VIP Whale

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    If you need the actual W/L statement itself, this is true, currently Cosmo only mails them.

    If you just need your coin-in coin-out numbers (and probably table W/L too) for the prior year, you can ask at the Identity Desk, if you're in Vegas. I make a trip early in the year and that's what I do at Cosmo, I don't like having the W/L mailed. You could ask for your numbers at the end of your last trip of the year too.

    I already know roughly what my L is at Cosmo, and that I have enough losses across all casinos to offset all my W-2Gs for the year, so I can do my taxes without the exact numbers from Cosmo.
     
  16. BayouBengal

    BayouBengal VIP Whale

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    Email works as well if you don't feel like calling.
     
  17. TrewBrew

    TrewBrew VIP Whale

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    My CPA wants an excel spreadsheet from me if I have winnings. On it he wants casino date fame played and amour won it loss. The few times I had to give him this for big wins he said if I made one up after I got statements from casinos that would work.

    He also said it would be helpful to have one even if i did not have big wins. the IRS. May be alerted if you only submit every time you have winnings that generated a 1099g. So every year he gets the spreadsheet and it shows a loss.
     
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  18. bubbakitty

    bubbakitty Doing retirement again and happily so....

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    Sounds good but do you fill out dattes times, amount played, machine numbers and then fill in losses at a later date?
    How can IRS dispute false numbers seemingly in line? Seems to be jokesy. But I too fear the long arm.
     
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  19. nostresshere

    nostresshere Mr. Anti Debit Card

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    If my CPA required that from me, I would tell him to kiss my a$$ goodbye. It is not required to submit you taxes, but he feels just fine making you do all that legwork.
     
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  20. Ty

    Ty ?

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    Link please. From the IRS preferred.
     
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