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Info when you cash a ticket

Per multiple IRS audits I've been thru as a professional gambler, those beloved casino win/loss statements mean nothing to the audit process, and as I was told for a very good reason: you cannot prove you did not ever play without a card at any time, and neither can it be proven that your card reader worked all the time your card was inserted.

The only documentation that has value are your bank withdrawal/deposit records, and your personal contemporaneous gambling log. Nothing supersedes or holds more importance to the audit process than a taxpayer's/gambler's own words.

TITO this or that has no importance other than the cash it provides.

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--- In vpFREE@yahoogroups.com, Barry Glazer <b.glazer@...> wrote:

Can't imagine what the IRS would do with such information, except perhaps to use it to check a return to see if ANY gambling activity is reported. The fact that a given individual cashed a TITO ticket gives absolutely no information as to whether they won or lost, and the IRS has already (as I understand it) decided that even casino-issued win-loss summaries at end of year are not "evidence" of gambling wins/losses, although they might be persuasive. Such win-loss statements, if shared with the IRS, MIGHT be of more use to them.

Rob,

My experience (based on thankfully only one tax audit so far) was just exactly opposite of your statement. The auditor completely dismissed my contemporaneous gambling log straight away, and was only interested in third party confirmation of my results - specifically the won/loss statements provided by the casinos. I guess it all depends on which auditor you get.

EE

Per multiple IRS audits I've been thru as a professional gambler, those beloved casino win/loss statements mean nothing to the audit process.....

.... The only documentation that has value are your bank withdrawal/deposit records, and your personal contemporaneous gambling log. Nothing supersedes or holds more importance to the audit process than a taxpayer's/gambler's own words.

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--- In vpFREE@yahoogroups.com, "rob.singer1111@yahoo.com" <rob.singer1111@...> wrote: