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posted Dec 28, 2022 10:48:58 AM

Where do I record losses from playing daily fantasy sports as a business in Schedule C? I have two sites where I have losses this year and want to offset my income.

Two sites I have made profit on and two sites I have had losses from.

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1 Replies
Level 15
Dec 28, 2022 11:09:12 AM

See https://ttlc.intuit.com/community/taxes/discussion/schedule-c-for-gambling-income-where-to-show-loss/00/164024

 

See also https://proconnect.intuit.com/taxprocenter/tax-law-and-news/professional-or-casual-gambler-how-to-help-your-clients-play-their-cards-right/