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?
My first RF was on a 1.00 JOB which I was playing for the first time and I
hit a 4000 RF.
My losses that year was greater than my wins. I thought this would negate my
win and it would be a wash. NOT SO !
The win increased my adjusted gross income and affected my deductions
including my medical and social security I believe. Taxes is no my strong suit but
my refund was much less than I anticipated.
I never play a machine that pays over 1200 at one time for that very reason.
It is not worth it to me.
Gromp
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