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Non-Tech : SIMMD - Hot Casino Gaming Deal
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To: Joe Copia who wrote (43)4/19/1999 5:02:00 PM
From: Whisperer!   of 80
 
Gambling and Taxes

Mon Apr 19, 1999

Should you pay taxes on your winnings? Forbes magazine writer, Dan Seligman, speculates about the relationship between gambling and taxes. A helpful tip is to keep a running spreadsheet of gambling wins and losses throughout the year, since only the balance of winnings after gambling losses are subtracted is regarded as taxable income. Although Seligman is still undecided about what to enter on his own 1040 form, readers may gain some insight into the problems and bureaucracy that face gamblers at tax time.
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