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Old Oct 21, 2009, 10:14 PM
royeyrich
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Gambling Losses

What supporting documentation for gambling losses is acceptable from a cash basis taxpayer going into a IRS audit. Taxpayer deducted up to the amount claimed as misc. income. Taxpayer has no banking activity to support cash withdraws etc. Any and all advice truely appreciated.

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Old Oct 22, 2009, 10:02 AM   #2  
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A daily diary of your wagering activity would be just what you need.
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Old Oct 22, 2009, 01:20 PM   #3  
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Also, if you gambled in a casino and used their player's card, they can provide you with a printout that will at least partially show your gambling losses and winnings.

This document has been accepted at face value by the IRS as proof of gambling losses.

A phone call to the toll-free number on the back of the player's card will get you the printout in about ten business days.
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