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s.mill hokie

Joined: 04/19/2004 Posts: 6975
Likes: 799

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So, CPAs (and gamblers) on the board..........


I've got a 1099-k from Paypal solely related to transfers to/from 2 online wagering companies legal in Virginia. Not a large amount, but higher than the $600 limit that our state electeds decided was important.

I am not self-employed (and generally have a pretty straightforward return every year), so have no reason to file a Schedule C. Can I list the gross income from the 1099-k as other income (or Gambling winnings) on my Schedule A or will that cause some automatic flag and thus, additional headache down the line?




Posted: 02/21/2022 at 12:40PM


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Current Thread:
 
  So, CPAs (and gamblers) on the board.......... -- s.mill hokie 02/21/2022 12:40PM
  You can deduct losses to offset is you sch C it ** -- bigbadbird 02/21/2022 12:47PM

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