marktaxcpa
Returning Member

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None of these "experts" even understood your question.

 

"How does the IRS define a gambling session for sports gambling?" 

The netting of gains and losses greatly differs depending on how a gambling session is defined. 

 

There is nothing the tax code on the matter.   It refers to "transactions" to imply you do have the ability to use some sort of grouping.  I think a 24-hour period is the most likely answer from the IRS.   Defining a session by sporting event or sports season might be a possibility.  I do not think you can use a full year on a sports betting site to define your session.  Otherwise, the whole concept of the tax code for a casual bettor would match the general netting allowed for a professional gambler and thus not make sense.  

 

I think you may have to keep separate 24 hour results for the different gambling sites as well.