Mars1
Level 3
03-11-2022
09:18 AM
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My client has won from betting on sports. Was wondering if it is treated the same as regular gambling winnings.
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BobKamman
Level 15
03-11-2022
09:30 AM
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Somewhat more likely to win the argument that she's a "professional gambler" so losses can go on Schedule C -- compared to those with skill only at slots, and more like those who play card games.
https://www.cpajournal.com/2019/12/24/taxation-of-gambling-income/
