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    Tax treatment for gambling winnings/losses for individuals

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    Joyce received a Form 1099 for her gambling winnings in the amount of $2100. Joyce is not a professional gambler.

    a. is the income subject to self employment tax?
    b. what type of income is it for tax reporting?
    c. can Joyce deduct any amounts against her gambling income?
    d. where would expense amounts be reported on a tax return?

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    Solution Preview

    a. Joyce is not subject to self employment tax because she is not in the business of gambling.

    b. Her ...

    Solution Summary

    Each question is answered following tax law as it relates to individual tax reporting.