by antneye » Wed Apr 02, 2008 9:59 am
I net and feel comfortable sleeping at night.
I know it's technically wrong, but the present code is ridiculous for the casual gambler. I would have shown an enormous increase in my net income, which would then have a ridiculously high deduction to bring me right down to the same net gain.
Except..............
my income would look a lot higher than it really is and I would suffer in other areas of the tax code whch would actually penalize me for my hobby.