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Question about schedule a poker tournament tickets

I have heard I can use it. But here someone said 'No'.
So I wanted to make sure which is right.
accourding to irs(https://www.irs.gov/uac/Newsroom/Five-Important-Tips-on-Gambling-Income-and-Losses-1).
Keep accurate records. If you are going to deduct gambling losses, you must have receipts, tickets, statements and documentation such as a diary or similar record of your losses and winnings. Refer to IRS Publication 529, Miscellaneous Deductions, for more details about the type of information you should write in your diary and what kinds of proof you should retain in your records.
it says keep the tickets.
Does it means I can use poker buy-in ticket as deduction??
also, lottery scratch offs???
Deductions for gambling winnings.
Thanks.
1 Best answer

Accepted Solutions
DDollar
Expert Alumni

Question about schedule a poker tournament tickets

If you have gambling winnings then you can deduct gambling losses up to the amount of your winnings.  You are required to maintain documentation to support your losses.  Because of the nature of gambling, the available documentation varies widely.  A buy in ticket, if it was for the purchase of chips as opposed to a fee for a seat at the table, would be one such type of documentation and could be used to support a gambling loss.

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3 Replies
DDollar
Expert Alumni

Question about schedule a poker tournament tickets

If you have gambling winnings then you can deduct gambling losses up to the amount of your winnings.  You are required to maintain documentation to support your losses.  Because of the nature of gambling, the available documentation varies widely.  A buy in ticket, if it was for the purchase of chips as opposed to a fee for a seat at the table, would be one such type of documentation and could be used to support a gambling loss.

Question about schedule a poker tournament tickets

If I won $10,000 and have to pay tax $1000
Do I send them $1000 worth of losing document(withdrawal from casino or tickets) ? or all $10000 worth of document?
Thanks.
DDollar
Expert Alumni

Question about schedule a poker tournament tickets

You keep records to support the losses you are claiming. You don't send them to the IRS unless and until they question your loss claims and ask for the supporting documentation.
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