Re: Tax help
Don was right to point out the Groetzinger decision, which has wide-ranging impact. The IRS has an opinion memo from one of its attorneys regarding the topic of "professional gamblers" and their ability to deduct losses as well as their ability to deduct meals, hotel and travel expenses. Different courts have interpreted the Code in different ways, so expert advice is warranted for any taxpayer who wants to end up on the "right" side of the law.