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Lee Mannino Laura (St. John's University, United States)
How is Gambling Income Measured for US Federal Tax Purposes?
Scientific Publications / University of Economics in Katowice. Global Business Towards New Paradigm in Time of Crisis, 2014, s. 356-361, bibliogr. 9 poz.
Słowa kluczowe
Dochody, Podatki
Income, Taxes
Stany Zjednoczone Ameryki
United States of America (USA)
Everyone who walks into a casino does so with high hopes. No one expects to win every bet placed, but most would be happy to leave the casino with more money in their pockets than when they walked in. This is likely to be true whether the person placing the bets is a citizen of the United States or not. However, a recent case has some people thinking about the circumstances in which a gambler is considered to be a winner. Would an individual consider himself a winner if he won some of the bets he placed, even though he left the casino with less money than he came with because he lost more bets than he won? The U.S. Tax Court would have us believe that, according to its holding in Park v. Commissioner. However, the D.C. Circuit reversed that opinion, holding that income from gambling should be measured by the individual's net gain resulting from an entire gambling session. Further, the net gain rule should apply whether the individual is a citizen of the United States or not. (fragment of text)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
  1. AM2008-011, Office of Chief Counsel, Internal Revenue Service, 2008.
  2. Code § 1441.
  3. Code § 165(d).
  4. Code § 6001.
  5. Code § 61.
  6. Code § 7701.
  7. Code § 871.
  8. Park v. Commissioner, 136 T.C. 569 (2011).
  9. Parkv. Commissioner, 2013-2 USTC 50,423 (D.C. Circuit).
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