Jump to content

Welcome to The Gambling Forum
Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, post status updates, manage your profile and so much more. This message will be removed once you have signed in.
Login to Account Create an Account
Photo

Have you done your taxes?

- - - - -

  • Please log in to reply
88 replies to this topic

#51
WVU

WVU

    Senior Member

  • JFC
  • 15012 posts
I only cheat a lil. I'll be OK,

#52
MonkeyF0cker

MonkeyF0cker

    Rockstar

  • Members
  • 8510 posts

I only cheat a lil. I'll be OK,

 

The risk of up to 5 years in prison and having to pay it all back anyway vs. a potential few thousand dollars.

 

I'm sure it's worth it if you need the money that badly.



#53
WVU

WVU

    Senior Member

  • JFC
  • 15012 posts
I would pass an audit. Turbo tax begs for you to take the deduction. And I did.

#54
housepicks

housepicks

    Rockstar

  • Members
  • 9216 posts
Need to do 16’ and 17’
SP NATION

#55
milwaukee mike

milwaukee mike

    this space for rent

  • JFC
  • 20383 posts

That garbage above is asking what percent taking this deduction will actually get audited? Again, millions will/should use it.

 

on average 1 out of every 160 get audited... it all depends on how much of a disaster loss is claimed, what the rest of the return looks like, whether they use a paid preparer, etc...  but apples to apples i would say someone with a 5k+ federal disaster loss (no 10% casualty loss floor) is at least twice as likely to get a letter



#56
WVU

WVU

    Senior Member

  • JFC
  • 15012 posts
Thanks Michael. Sounds about right.

#57
milwaukee mike

milwaukee mike

    this space for rent

  • JFC
  • 20383 posts

Thanks Michael. Sounds about right.

 

the goofy thing about those losses is that you can add it to the standard deduction, no 10% floor, and you can even amend the prior year's return for a loss that happened in the current year

 

i have done very few personal federal disaster loss deductions, the ones i've done with recent south carolina/florida hurricane were all business property



#58
ERBtheGREAT

ERBtheGREAT

    Junior Member

  • Members
  • 2541 posts
Did last month, got back 1600 bucks

#59
IAG

IAG

    Big League feather duster/Lady Bro/ TGF MVP 1Q 2017

  • JFC
  • 19688 posts

Did last month, got back 1600 bucks


Nice!
"One day you're the cock of the walk, the next you're a feather duster."<br><br>SP NATION

...because the deafening roar of indefinite war is epic.

#60
jeffksu

jeffksu

    Junior Member

  • Members
  • 1764 posts
Did ours in February, right at 100,000 and got a 4,200 refund... We claim 0 +30 every payday though... 28,000 was gambling winnings.... My salary, her salary and winnings....

#61
FISHHEAD

FISHHEAD

    Member

  • JFC
  • 61569 posts

Have yet to start


-FHW-, where the PROS PLAY

#62
Wade

Wade

    Colonel

  • Members
  • 8922 posts

Taxation is Theft


I never caught a break in my life


#63
IAG

IAG

    Big League feather duster/Lady Bro/ TGF MVP 1Q 2017

  • JFC
  • 19688 posts

Have yet to start



I started.....then stopped....have yet to restart again.
"One day you're the cock of the walk, the next you're a feather duster."<br><br>SP NATION

...because the deafening roar of indefinite war is epic.

#64
WVU

WVU

    Senior Member

  • JFC
  • 15012 posts
I have mine done but they are saying the electronic filing PIN that was mailed to me doesn't match. But it does. Same thing for one of my daughters. Their counter fraud measures are dumb if they don't work.

#65
rito

rito

    Rockstar

  • Members
  • 13750 posts

I have mine done but they are saying the electronic filing PIN that was mailed to me doesn't match. But it does. Same thing for one of my daughters. Their counter fraud measures are dumb if they don't work.

 

I've had that problem a bunch.   Can you use your AGI from last year instead?



#66
WVU

WVU

    Senior Member

  • JFC
  • 15012 posts

I've had that problem a bunch.   Can you use your AGI from last year instead?


Using turbo tax and it doesn't seem to be an option.

#67
FISHHEAD

FISHHEAD

    Member

  • JFC
  • 61569 posts

Switched from TURBO TAX to TAX ACT 5 years ago and prefer it much better....... :pizza 


-FHW-, where the PROS PLAY

#68
IAG

IAG

    Big League feather duster/Lady Bro/ TGF MVP 1Q 2017

  • JFC
  • 19688 posts
OK this is weird. I just went and filed an extension through TurboTax. That seemed to go through OK, but then all the sudden there was a big window full of stuff about crypto currency and bitcoin filing..how to calculate etc and so forth. I had not made any reference to crypto per se, nor had I searched their FAQ about it. It was almost like it was a giant warning. Don’t forget to report your BTC capital gains!


Has anyone else filed an extension or filed thru TT and has this happen? I mean the government knows I have bought and sold crypto...and they could associate it with my SS number. Would that information has been passed along to TurboTax , or am I being paranoid?

That was just really bizarre.
"One day you're the cock of the walk, the next you're a feather duster."<br><br>SP NATION

...because the deafening roar of indefinite war is epic.

#69
FISHHEAD

FISHHEAD

    Member

  • JFC
  • 61569 posts

IAG, at what age will you stop filing altogether?


-FHW-, where the PROS PLAY

#70
IAG

IAG

    Big League feather duster/Lady Bro/ TGF MVP 1Q 2017

  • JFC
  • 19688 posts

IAG, at what age will you stop filing altogether?



? Never, I would assume....
"One day you're the cock of the walk, the next you're a feather duster."<br><br>SP NATION

...because the deafening roar of indefinite war is epic.

#71
rito

rito

    Rockstar

  • Members
  • 13750 posts

IRS must have hacked your ipad, better throw it out.



#72
IAG

IAG

    Big League feather duster/Lady Bro/ TGF MVP 1Q 2017

  • JFC
  • 19688 posts

IRS must have hacked your ipad, better throw it out.

See I am paranoid. I can’t tell if you’re being serious or not.

From what I have been reading, I wouldn’t rule it out.

Have you done yours yet Rito? I am remembering that Colorado has an automatic extension, and you don’t need to file a form. I hope that is correct. That is how I remember it. I still have to file there.
"One day you're the cock of the walk, the next you're a feather duster."<br><br>SP NATION

...because the deafening roar of indefinite war is epic.

#73
rito

rito

    Rockstar

  • Members
  • 13750 posts

See I am paranoid. I can’t tell if you’re being serious or not.

From what I have been reading, I wouldn’t rule it out.

How do you done yours yet we don’t? I’m remembering that Colorado has an automatic extension and you don’t need to file a form. I hope that is correct. That is how I remember it. I still have to file there.

 

Lol I'm joking.

 

Yea you get an automatic extension in Colorado when you file the Federal extension.   But, obviously still have to pay.  Their website is retarded, have to pre enroll in some payment program or else they wanted to charge me $600 to pay 10k.    Said fuck it and just didn't pay anything yet.



#74
IAG

IAG

    Big League feather duster/Lady Bro/ TGF MVP 1Q 2017

  • JFC
  • 19688 posts

Taxation is Theft


No doubt, When I took Plommer’s crypto seminar, I should have paid the extra $49 for the tax evasion bonus course.
"One day you're the cock of the walk, the next you're a feather duster."<br><br>SP NATION

...because the deafening roar of indefinite war is epic.

#75
IAG

IAG

    Big League feather duster/Lady Bro/ TGF MVP 1Q 2017

  • JFC
  • 19688 posts

Lol I'm joking.

Yea you get an automatic extension in Colorado when you file the Federal extension. But, obviously still have to pay. Their website is retarded, have to pre enroll in some payment program or else they wanted to charge me $600 to pay 10k. Said fuck it and just didn't pay anything yet.


Ok good thanks.
I won’t owe Colorado that much. Not going to even bother to calculate that until I do my Federal and figure in the rental stuff. Whatever interest they charge won’t be much. I did pay the Fed today along with my extension. TurboTax is saying that extension is waiting to be approved. I thought it was an automatic deal. I’m screwed if they reject extension app. No way I’m doing these in the next 24 hours.
"One day you're the cock of the walk, the next you're a feather duster."<br><br>SP NATION

...because the deafening roar of indefinite war is epic.




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users