Reporting Gambling Income – The Burns Firm – Advisors of Complex Financial Matters

Do You Know the Tax Consequences of Gambling

February 12th, 2025|Categories: Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Gambling Winnings, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Records, Tax Rules, Texas CPA, The Burns Firm|Tags: Do I pay tax on gambling winnings, Dop I need to report my gambling winnings, Gambling and Tax, Professional Gambler Treated as a Business, Reporting Gambling Income, tax, tax advisor, Tax Consequences of Gambling, The Burns Firm|

Gambling can be a fun pastime or a serious professional endeavor. Either way, winnings are taxable income. Yet, as recently reported by the Treasury Inspector General for Tax Administration (TIGTA), [...]