That could happen. I would take a copy of a withdrawal slip from a U.S. bank
showing where the original $8K came from. That person would still get nailed
for both IRS and Michigan income tax liability for the profit - and the State
of Michigan is one of those that will not allow you to write off any losses.
You get a W2G, you pay.
- Brian in MI
In a message dated 3/18/2005 9:27:06 AM Eastern Standard Time,
jbecker11@charter.net writes:
How about this, a person lives in Detroit, take $8000 over to canada
to gamble, wins $2500 while there, so they come back with $10,500.
They have over $10,000 on them, but only won $2500. They are not
breaking any US law that I know of, but it sounds like they could be
in for quite a bit of grief from customs???Happy Royals
Jim
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