no the revenue rule i posted is not referencing slots. That is a memo.
If you actually look at the revenue rule it is clear. Go look up that EXACT revenue rule in the tax code.
And even if you want to site that MEMO. The MEMO is clear in saying that basis is excluded. I dont understand how people cant see that it is CLEARLY WRITTEN in there.
"In ordinary parlance, a wagering “gain” means the amount won in excess of the amount bet
(basis). See Rev. Rul. 83-103, 1983-2 C.B. "
