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This might belong in Showerthoughts, cept I'm really asking...

If you lived near a Casino, or like, In Vegas or somewhere similar....

Couldn't you.... go over and pull out all your paychecks from their ATM.....

Then play a $1 slot and leave.

Tax time comes around, chalk the whole year up as "Gambling Losses"

I imagine if this worked, someone would have already tried... still curious.

This might belong in Showerthoughts, cept I'm really asking... If you lived near a Casino, or like, In Vegas or somewhere similar.... Couldn't you.... go over and pull out all your paychecks from their ATM..... Then play a $1 slot and leave. Tax time comes around, chalk the whole year up as "Gambling Losses" I imagine if this worked, someone would have already tried... still curious.

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[–] • 0 pt

In addition gambling losses are only deductible up to the amount of gambling income. You can't use gambling losses to offset earned income. Plus you have to itemize.

[–] [deleted] • 0 pt

Well, there goes the whole damn plan.

Thanks, that makes more sense.