Originally Posted by
Alan Mendelson
Mickeycrimm why don't you post them. If they changed and I'm wrong then I'll say so. If the rules changed I'll admit it.
From Tax Help For Gamblers by Jean Scott and Marissa Chien:
"....filing as a professional gambler using Schedule C has its own set of problems. First, the IRS imposes rigid requirements on anyone wanting to claim gambling as his "business," although these are not all set in stone; individual situations are considered. However, court cases have established that your intent must be to make money as a PRIMARY SOURCE OF INCOME; it must not be just a hobby."
By Rob's own words he went to the casino one day a week for an average of four hours. And he has said he had other income plus his wife's income. Do you really think the IRS would consider Rob's limited activity in casinos a profession and his primary source of income....especially considering that his gambling activity would not generate tax dollars to the IRS?