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Taxation & Estate Planning

: TaxProf Blog

Couple That Gambled

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Thongthepsomphou v. Commissioner, T.C. Summary Opinion 2010-94 (July 19, 2010): Before petitioner?s decision to become a professional gambler, petitioners had been casual gamblers but they did not wager large amounts. Sometime during 2005 petitioners began to invest heavily in gambling (mainly playing slot machines). Petitioners were born in Vietnam, and...

Full post as published by TaxProf Blog on July 20, 2010 (boomark / email).

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