The incorrect reporting of wagering gains and losses is common.  This course will review the taxation of casual gambling activities as well as tax issues faced by professional gamblers. How to advise clients on proper documentation and tracking of gambling activities will be discussed.

Learning Objectives

  • Calculate the correct amount of taxable gambling income on an individual tax return.
  • Understand the unique tax issues faced by professional gamblers.
  • Explain the documentation required to correctly calculate taxable gambling income.

Education Information

IRS Program Number: NMVBP-T-00188-21-S

Length: 100 minutes plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Basic

Delivery Method: Self-Study

Field of Study: Federal Tax (IRS);

Credit hours: 2 IRS CE

Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor.

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here to learn more about our education policies.

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