Does this mean it is simply the honor system any time I claim I continued gambling until I lost everything I won? As long as I document it, the IRS can't question it?
What worries me is that the IRS doesn't believe me. If I legitimately win, let's say a $20,000 taxable jackpot (and W2G issued) and then spend it all back during that same gambling session, is it possible to lose an audit because I can't prove it, other than what I documented in my spreadsheet?
