Hi,
The instructions for this situation are clear. But I do not see 'filing the 1099-k' in your instructions, only the gambling wins and losses. My concern is that the IRS will not know the gambling wins/losses are tied to the 1099-k filing, and will treat them separately (thus expecting taxes to be paid on gambling wins/losses as well a taxes paid on 1099-k values).
Is there a way to indicate to the IRS in the filing that the 1099-k values are gambling wins/losses? Or is there a need to also file the 1099k, and then back out this 'income' somehow so that it's not duplicative? If so, how?
thanks!
