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    shwetakerai's Avatar
    shwetakerai Posts: 1, Reputation: 1
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    #1

    Mar 14, 2012, 04:29 PM
    Lottery invoices
    How will I treat the lottery invoices shown on the bank statement as withdrawals.. there are some few shown as deposits as well.. is it a part of income to the business?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Mar 16, 2012, 04:19 PM
    ? Sounds like owners personal transactions to me, is this business a lottery agent? If so these items are part of the revenue and expenses of the business, otherwise...
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Mar 16, 2012, 04:51 PM
    Is this payments to the lottery commission or payments from them?

    You can't claim gambling as a expense on a business unless you are a professional gambler
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #4

    Mar 18, 2012, 09:37 PM
    It might be unhelpfull but allowing us to see the context would assist us in helping you
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