Gambler?s Luck Turns in Second Trip to Tax Court

A taxpayer who consistently lost money playing the slots at two casinos in California was found not to have an actual and honest profit objective and could not deduct her gambling losses on Schedule C.

Source: http://feedproxy.google.com/~r/AICPA_Tax/~3/hRYev7cyxSQ/20140326.aspx

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