Colin, Joe748, and SD1 are joined by tax expert Gary Kondler to break down how new legislation could impact gamblers’ taxes. Gary explains the proposed 10% cap on deductions, how it affects pros and recreational players, and why W2Gs, 1099s, and session accounting matter more than ever. They cover real-world examples, what gamblers can do to prepare, and why planning ahead is critical as these changes loom.
- New 90% gambling loss deduction rule
- Impact on different gambler types
- Professional vs. amateur gambler status
- Session method reporting
- Practical tax strategies
- Audit risks and triggers
If you want to contact Gary for your tax needs you can find him here
The Blackjack Apprenticeship Podcast