Understanding Gambling Winnings and Losses Webinar

Summary
As gambling activities — from sports betting and casinos to online platforms and fantasy sports — continue to surge in popularity, tax professionals are increasingly tasked with navigating the complex tax rules surrounding gambling income and deductions.

In this webinar, you'll gain an understanding of how gambling winnings and losses are taxed, reported, and substantiated for both casual and professional gamblers. We’ll walk through examples of income and losses, IRS forms, audit pitfalls and the key distinctions that determine how clients must report their gambling activities.

Following the webinar, Drake Software will showcase a demo of their product.

This webinar is presented by Drake Software. By registering for this webinar, you agree to have your information shared with Drake Software.

1 CPE for AFSP, EA, CPA, CRTP

Objectives
Upon completion of this course, you will be able to:
• Learn about types of income and losses considered gambling-sourced
• Understand how gambling winnings and losses are taxed
• Review IRS reporting requirements and forms
• Identify compliance and planning considerations

Register: https://www.natptax.com/EventsAndEducation/Pages/course-details-live-webinar.aspx?k=MBEW2566

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