Tiger's Jai-Alai Chalk Talk
Discussion forum for Jai-Alai Heaven
Foro de la discusión para el Cielo de Cesta Punta
Forum de discussion pour le Paradis de Pelote Basque
hits since 8/12/03

Chalk Talk Registration    Participación en Chalk Talk
 OneStop Entries, Results, Statistics
"Question of the Week" Archive    Hall of Fame
Re(1): Ok so which is it? Take 90% of LOSSES? Or offset 90% of WINS?
Posted on July 13, 2025 at 12:36:37 PM by Tiger

Winnings (100%) are reportable income in all cases.

Deduction amount = 90% of (losses + expenses), but only to the extent of winnings.

  	  	90% of	Max		

Wins	Losses	Losses	Deduct	Net	Taxable

100	50	45	45	55	55

100	100	90	90	10	10

100	111.11	100	100	0	0

100	150	135	100	-50	100

100	200	180	100	-100	100

100	300	270	100	-200	100

(Simplified, w/o expenses)
So, it's those last cases where they're really getting hosed, i.e., lose more, pay more tax.

I'm assuming that's an unintetional blunder, but, who knows?

Replies:

You must register before you can post on this board. You can register here.

Post a reply:
Username:
Password:
Subject:
Message:
Link Name:
Link URL:
Image URL:





Do you want to post on Chalk Talk?
In order to post your own messages on Chalk Talk, you must first register as a member.
Do NOT use the link above the posting box that says 'You must register ... register here'. It will not work.
Please report problems/questions directly to the Den - E-mail: rsbassociates at mindspring dot com
Tiger's Jai-Alai Chalk Talk logos, format and graphics copyright © 2003-2025 by RSB Associates
Create Your Own Free Message Board or Free Forum!
Hosted By Boards2Go Copyright © 2020


<-- -->