Will they adjust pay tables in 2026?

[mickeycrimm]

Slap must do a lot of VP gambling to hit so many big hands lol.

No judgement but mostly wanted to point out the reflection in his image vs the reflection in your image, Rob.

Which one is the fake gambler and which is the real?

Spoken like a true low-roller.

Here's something to do next time you're in that town. Take your son (oh wait!....you don't have one) and $400k in cash (oh wait!....you don't have it) and go to one of the high-end properties you play at (oh wait!....you play at skin-flint joints) go into the hi-limit slot room (oh wait!....you've never been in one) get twenty $20,000 tickets made out, then tell them you'd like to play vp at $500/hand minimum and in as private an area as is allowed by policy and is possible.

Guaranteed: after trying to figure a goofy, lonely old man like you out, they'll confirm you're gonna run all of those tickets thru at least once (they're betting on you playing until much or most of or even all of your tickets will be gone) then they'll accommodate your request wherever they can.

Yes, you're having one of your wet dreams right now, but turn the porn back on and it'll all go away.

All I will say is I posted a picture of 100k in a fanny pack once and no one accused me of it being fake. You posted a safe of money and everyone was just LOLed at the nonsense with the e-bay prop money.

This is readily verifiable to anyone who cares to track down the messages.

So ........ LOL. That shit won't fly.

Never claimed to be rich but I live comfortably and given how little I've worked for others, hours, etc, I've done pretty fucking good for myself. You were a wage slave most of your life then some made up story about a double up bug where you inserted yourself into the picture years later when no one could verify it.

and lol the phyiscal photo-taking framing of your big jackpot win. You had a hard time taking the picture on just the front side without the actual machine. You neglected that fact that it reflected the rest of the room because you're too slow to notice such things.

You'd never made it outside of a government job.

No one said a word about the money in Rob’s pic for days. Then boz posted that propmoney could be bought. Then you guys all of a sudden assumed the roles of prop money experts. LMAO it was some funny shit.

[mickeycrimm]

[QUOTE=SLaPiNFuNK;206977][QUOTE=mickeycrimm;206974]

This is where a lot of people get tangled up. You discount 10% from your losses, then on the tax form subtract losses from your winnings.

If you had $1000 in losses, subtract 10% to $900.

If you had $900 or lower in winnings you owe zero tax.

If you had $1000 in winnings you owe tax on $100.

this is wrong... this is where the problem is with the new bill for 2026... (which is active now)

You can only write off up to 90% of your losses, in other words 10% of your winnings are automatically taxable now... is.[/jQUOTE]

You are figuring it wrong. You can write off 90% of your losses, not 90% of a W2G. If your win is 4K and your loss is 10K then you can write off 9K in losses. And the 9K in losses is well more than the 4K you won. You can write your losses off up to the amount of win. So you owe no tax even with new tax law. Consult a CPA.

[accountinquestion]

Spoken like a true low-roller.

Here's something to do next time you're in that town. Take your son (oh wait!....you don't have one) and $400k in cash (oh wait!....you don't have it) and go to one of the high-end properties you play at (oh wait!....you play at skin-flint joints) go into the hi-limit slot room (oh wait!....you've never been in one) get twenty $20,000 tickets made out, then tell them you'd like to play vp at $500/hand minimum and in as private an area as is allowed by policy and is possible.

Guaranteed: after trying to figure a goofy, lonely old man like you out, they'll confirm you're gonna run all of those tickets thru at least once (they're betting on you playing until much or most of or even all of your tickets will be gone) then they'll accommodate your request wherever they can.

Yes, you're having one of your wet dreams right now, but turn the porn back on and it'll all go away.

All I will say is I posted a picture of 100k in a fanny pack once and no one accused me of it being fake. You posted a safe of money and everyone was just LOLed at the nonsense with the e-bay prop money.

This is readily verifiable to anyone who cares to track down the messages.

So ........ LOL. That shit won't fly.

Never claimed to be rich but I live comfortably and given how little I've worked for others, hours, etc, I've done pretty fucking good for myself. You were a wage slave most of your life then some made up story about a double up bug where you inserted yourself into the picture years later when no one could verify it.

and lol the phyiscal photo-taking framing of your big jackpot win. You had a hard time taking the picture on just the front side without the actual machine. You neglected that fact that it reflected the rest of the room because you're too slow to notice such things.

You'd never made it outside of a government job.

No one said a word about the money in Rob’s pic for days. Then boz posted that propmoney could be bought. Then you guys all of a sudden assumed the roles of prop money experts. LMAO it was some funny shit.

I believe your memory has failed you somewhat. I knew prop money could be bought (as I have bought some) and I believe another person called him out. The stacks of bills looked weird from the side. Like a pad of paper.

[coach belly]

You are figuring it wrong. You can write off 90% of your losses, not 90% of a W2G. If your win is 4K and your loss is 10K then you can write off 9K in losses. And the 9K in losses is well more than the 4K you won. You can write your losses off up to the amount of win. So you owe no tax even with new tax law. Consult a CPA.

How does this apply to those who had a net win from gambling?

For instance, someone filing as a professional, are they permitted deduct enough losses to claim zero income?

How about a rec player, who has a net win for a calendar year, with corresponding bank deposits or spending?

Can they get away with deducting 90% of their losses that equal 100% of their W2G total, or will the 90% rule kick in if they claim losses that are less than their W2G total?

[coach belly]

No one said a word about the money in Rob’s pic for days. Then boz posted that propmoney could be bought. Then you guys all of a sudden assumed the roles of prop money experts.

That evolved into claims that the money in Rob's safe was proven to be prop money.

[accountinquestion]

No one said a word about the money in Rob’s pic for days. Then boz posted that propmoney could be bought. Then you guys all of a sudden assumed the roles of prop money experts.

That evolved into claims that the money in Rob's safe was proven to be prop money.

Who claims to have proved it and how?

[coach belly]

Who claims to have proved it and how?

Nobody claimed to have proved it, they just claimed that it was proven.

[accountinquestion]

Who claims to have proved it and how?

Nobody claimed to have proved it, they just claimed that it was proven.

Well it was proven.

If not then show the proof or gtfo with your nonsense.

[coach belly]

Who claims to have proved it and how?

Nobody claimed to have proved it, they just claimed that it was proven.

Well it was proven.

That's what I wrote, claims that the money was proven to be prop money.

Nobody claims to have proved it, or explained how they could have proved it.

[accountinquestion]

If i put up a picture of construction paper and say it is $100 bill.

What would it take to prove that it isn't a $100 bill?

Is it even provable?

[coach belly]

No one said a word about the money in Rob’s pic for days. Then boz posted that propmoney could be bought. Then you guys all of a sudden assumed the roles of prop money

That evolved into claims that the money in Rob's safe was proven to be prop money.

Who claims to have proved it and how?

Nobody claimed to have proved it, they just claimed that it was proven.

Well it was proven.

That's what I wrote, claims that the money was proven to be prop money.

Nobody claims to have proved it, or explained how they could have proved it.

If i put up a picture of construction paper and say it is $100 bill.

What would it take to prove that it isn't a $100 bill?

Is it even provable?

Probably, it would depend on the photo.

Why are you claiming that the money in Rob's safe was proven to be prop money?

[SLaPiNFuNK]

You are figuring it wrong. You can write off 90% of your losses, not 90% of a W2G. If your win is 4K and your loss is 10K then you can write off 9K in losses. And the 9K in losses is well more than the 4K you won. You can write your losses off up to the amount of win. So you owe no tax even with new tax law. Consult a CPA.

You were never able to write off more losses than winnings... If so, you would be getting paid to lose. That was never the case.

Unless you are getting W2G's the tax man will never know about winnings or losses... Can you imagine how stupid it would be for a professional blackjack player to itemize every single hand and write try to write off losses?

-$25
-$25
+$25
-$25
-$push
etc etc...

When a W2G is reported, that shows as "INCOME"... however, as gamblers, we know that we make other bets before making that "win or W2G Income"... Now, you can only write off 90% of that "win" regardless of how much it actually cost you to hit that...

[coach belly]

When a W2G is reported, that shows as "INCOME"... however, as gamblers, we know that we make other bets before making that "win or W2G Income"... Now, you can only write off 90% of that "win" regardless of how much it actually cost you to hit that...

Why can't 90% of your losses be more than your W2G total?

Isn't that typically the case for most players?

[smurgerburger]

Slapinfunk just out of curiosity what is your occupation?

[smurgerburger]

When a W2G is reported, that shows as "INCOME"... however, as gamblers, we know that we make other bets before making that "win or W2G Income"... Now, you can only write off 90% of that "win" regardless of how much it actually cost you to hit that...

Why can't 90% of your losses be more than your W2G total?

Isn't that typically the case for most players?

If what he were saying were true it would be great for most forms of AP, because outside of VP grinding and very high limit slot hustling w2gs are a small percentage of your income, and according to slap you have no tax obligation for non-w2g income because the IRS doesn't "know" about it.

[SLaPiNFuNK]

When a W2G is reported, that shows as "INCOME"... however, as gamblers, we know that we make other bets before making that "win or W2G Income"... Now, you can only write off 90% of that "win" regardless of how much it actually cost you to hit that...

Why can't 90% of your losses be more than your W2G total?

Isn't that typically the case for most players?

In the gambling world, at least from the 25 years I've been filing taxes, you can't write off more than you have lost.

[SLaPiNFuNK]

Slapinfunk just out of curiosity what is your occupation?

I have a business where I sell musical instruments and accessories. I've been doing this about 15 years now.

[SLaPiNFuNK]

When a W2G is reported, that shows as "INCOME"... however, as gamblers, we know that we make other bets before making that "win or W2G Income"... Now, you can only write off 90% of that "win" regardless of how much it actually cost you to hit that...

Why can't 90% of your losses be more than your W2G total?

Isn't that typically the case for most players?

If what he were saying were true it would be great for most forms of AP, because outside of VP grinding and very high limit slot hustling w2gs are a small percentage of your income, and according to slap you have no tax obligation for non-w2g income because the IRS doesn't "know" about it.

It is true. This is why many "professionals" are talking about doing very little gambling this year or retiring from it all together...

If you are playing table games like blackjack or poker... you basically report your net win for the year, otherwise you could never deposit into a bank account / get a mortgage / autoloan etc...

The main issue is with taxable wins like W2G's ($2000 or greater slot win / $5000 or greater poker tournament score / sports betting wins however those are reported). You can only write off 90% of those taxable wins, regardless of your total net loss or win for the year....

it is terrible...

[smurgerburger]

When a W2G is reported, that shows as "INCOME"... however, as gamblers, we know that we make other bets before making that "win or W2G Income"... Now, you can only write off 90% of that "win" regardless of how much it actually cost you to hit that...

Why can't 90% of your losses be more than your W2G total?

Isn't that typically the case for most players?

In the gambling world, at least from the 25 years I've been filing taxes, you can't write off more than you have lost.

What does "write off more than you have lost" mean here?

Before the law change if you wanted to offset wins with losses you had to itemize (thereby losing the standard deduction if not filing as a professional gambler). Itemizing consists of deducting losses from wins and paying taxes only if the net is positive.

Now it's the same except you can only deduct 90% of losses.

I don't understand this notion you have introduced that this leads to negative taxable income (not phantom income, which is indeed a possible consequence of the new law).

[coach belly]

you can't write off more than you have lost.

That doesn't apply in any of the scenarios discussed in this thread.