Originally Posted by
FABismonte
Hi Alan:
You should consult your own tax professional. But I fear if one listed every day's winnings as income (even if there is no W2-G generated), then even if you offset later, you will be slain by the Alternative Minimum Tax. Also if you live in states like Illinois, where I grew up, you will find you cannot offset on you State tax return. That's bad when you have W2-Gs, but suicidal when you voluntarily list each day's winnings as income (which Illinois does not let you offset).
FAB