Tax Court Accepts IRS Method for Determining Gambling Wins and Losses December 29, 2009 The Tax Court held in a memorandum decision released Monday that taxpayers who were casual gamblers recognized wins or losses when they redeemed their tokens and that they could not net their wins and losses across the year (Shollenberger, TC Memo 2009-306). In this decision, the court accepted the IRS’ methodology for determining wagering gains and losses, which the Office of Chief Counsel put fo