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To: Horgad who wrote (267252)11/14/2003 9:48:36 AM
From: Mike M2  Read Replies (1) | Respond to of 436258
 
H, yes you can deduct gambling losses to the extent of your winnings. mike



To: Horgad who wrote (267252)11/14/2003 10:44:48 AM
From: ild  Read Replies (1) | Respond to of 436258
 
If he was allowed to buy his tickets then the public would buy 100 million of tickets still diluting him. IMO that was a good ad for the lottery.



To: Horgad who wrote (267252)11/14/2003 10:53:24 AM
From: Knighty Tin  Read Replies (1) | Respond to of 436258
 
Horgad, You can write off gambling losses up to your gambling winnings. I do it every year.



To: Horgad who wrote (267252)11/14/2003 11:14:07 AM
From: mishedlo  Respond to of 436258
 
Maybe somebody should start a company that just sits on its cash until the payoff on a lottery got big enough then it would step in and cover all the numbers.

Sorry that does not work.
What if 3 other people hit the winning ticket?
You win but collect 1/4 of the pot losing 75%

M