I started to be a professional sports gambler this year focusing on basketball. Through Sept. 7th. I have 369 bets. My total wagers = $66,798. My total winnings payout which includes the wager = $64,747. I plan to file a Schedule C using TurboTax.
I assume that my total winnings payout which include the wager = $64,747 would show on Schedule C Part I Income.
Do I enter my total wagers = $66,798 on Schedule C Part V Other Expenses Line 48 which transfers to Schedule C Part II Expenses Line 27a
