grandmabee Posted April 13, 2012 Report 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
Terry O Posted April 13, 2012 Report Posted April 13, 2012 Why not? If it is a "winning" - -then there may be "losses" Quote
jainen Posted April 13, 2012 Report 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
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