In a message dated 12/25/2004 9:11:49 A.M. Pacific Standard Time,
vpFREE@yahoogroups.com writes:
<<< Date: Sat, 25 Dec 2004 08:57:49 -0800
...I'm just raising questions - with no firm answers. Marissa and I do give
some guidelines and options in "Tax Help for the Frugal Gambler." But even
in there, we talk about "each case should be judged on its own merit" and
"check with your professional tax preparer.">>>
I do my own returns using Turbotax. A couple of yrs ago, just to be sure
that everything was kosher, I paid an enrolled agent who does a lot of high-end
professional returns to review the last few years.
The only questions that came up were gambling related. I spent a lot of time
explaining gambling issues that I thought were common knowledge. There were
no changes recommended as I file on the conservative side but I would amend
Jean's last statement to "check with a professional tax preparer who is
familiar with gamblers' returns".
It's only natural for a preparer who is not familiar with something to be
ultra-conservative. General programs like Turbotax have a tendency to be on the
conservative side on more complex issues but I figure the extra tax paid is
the cost of insurance to avoid an audit.
Once you find a preparer who meets your standards, you can take one more
step in avoiding an audit by checking with your local IRS office to see if any
actions or complaints are in their database for the preparer.
[Non-text portions of this message have been removed]
ยทยทยท
From: "Jean Scott" <QueenofComps@frugalgambler.biz>
Subject: Taxes on Gift Cards