....
>I found it very strange that win/loss stements were not mentioned
>in this case. I see a win/loss statement as much better than any of
>the other evidence of loss presented in this case. I do not see how a
>win/loss statement can be considered "meager at best."
>
>Chris
>
I initially found it strange as well, until I realized that (a) the guy probably never heard of Win/Loss statements himself as his local San Diego area Indian casino might not generate them or at least doesn't go out of its way to promote them, and (b) his tax lawyer might not have considered W/L statements unless he specialized in gambling taxation and even if he did he might have learned only the mantra that "you must keep a diary" since there is no guidance from IRS really regarding the applicablility of W/L statements.
I do not believe this case means "you can forget about keeping a diary and just rely on your W/L statements, marker slips, ATM receipts, and W2Gs. "
I do believe the case stands for a more limited holding, something like: "When there is sufficient additional evidence (such as ATM receipts, testimony from eyewitneses and IGT experts, marker slips, etc.) supporting the taxpayer's contention that he lost more than he won in a given tax year, a gambling diary is not absolutely required in order to find in favor of the taxpayer on that issue of fact."
I do agree that the IRS *should* consider W/L statements more reliable than diaries for the reasons you mentioned (they're like W2s in that they're generated by 3rd parties, with no conflict of interest regarding the taxation of their employees/customers). While, yes, you might not always use your tracking card or even have one, that situation is akin to cash tips received by employees that should be reported to the employer but might not always be. 
I.e., the possibility of some activity missed by the casino doesn't make W/L statements any less reliable than a diary (which can also have some activity missed, this time at the whim of the taxpayer).
Dave
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In vpFREE@yahoogroups.com, "kcace1024" <cy4873@...> wrote