grandmabee Posted April 13, 2012 Report Share Posted April 13, 2012 CLient won a prize at casino and received a 1099-misc box 3 other income Can this be offset by gambling losses? name just went into drawing at casino. I am think no but just want others ideas thank Quote Link to comment Share on other sites More sharing options...
Terry O Posted April 13, 2012 Report Share Posted April 13, 2012 Why not? If it is a "winning" - -then there may be "losses" Quote Link to comment Share on other sites More sharing options...
jainen Posted April 13, 2012 Report Share Posted April 13, 2012 >>Can this be offset by gambling losses?<< Sorry, no. The reason it is on a 1099 instead of a W2-G is that it is NOT income from a wager. Quote Link to comment Share on other sites More sharing options...
grandmabee Posted April 13, 2012 Author Report Share Posted April 13, 2012 that's what I thought. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted April 13, 2012 Report Share Posted April 13, 2012 goes on Line 21, btw Quote Link to comment Share on other sites More sharing options...
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