Was playing JOB on a multi-denomination machine. The person next to
me was playing at the $25 level (I was playing much lower).
She was feeding the machine about $1000 every five-ten minutes and
then she hits a quad which is a handpay, taxable event and she is
all thrilled and talking to her friends on the other side and
everyone "oooos and ahhhhs". She continues playing and is putting
more money in the machine and low and behold in about twenty minutes
she hits another quad which is somewhat normal (I figure that she
would hit a quad about every thirty minutes) and the same reaction.
I asked her if is she was even yet and she says "no, this machine
has $3000 of my money". She plays a while longer and leaves.
My question is: Doesn't the taxable events at this denomination
create havoc on your taxes? Not only losses, but itemized
deductions, IRA contributions? Can someone who is not a pro, play
at this level on a routine basis?
Or am I missing something here?