Author Topic: Brackets and Taxes (Read 1861 times)

StormRoto · « **on:** January 16, 2004, 06:54:56 AM »

Hey does anyone know what you can write off your taxes for the bowling expenses for possible winnings via Brackets

I heard that they changed what you could claim airfare,hotel,equipment,entry fees etc

StormRoto · « **Reply #1 on:** January 19, 2004, 09:11:09 PM »

Thanks Bob
The biggest thing that I had was for example if you put up $600 for brackets and you won $1800 you get a 1099 from to claim $1800 when actually you cleared $1200... so I was just trying to figure out what I could claim for expenses...

Brian

TWOHAND834 · « **Reply #2 on:** February 02, 2004, 01:34:20 AM »

I have been looking to vent my frustrations about this. So here goes. It is bull crap that you should have to claim this stuff on taxes. The reason why is because it is our own money coming back out to us. It is not like a job where a company is paying out wages for work we do. So, why would we pay taxes on our own money? The money we put into the brackets are already taxed as it is. That sucks big time and it makes me not want to participate at times, because I feel like all I am doing is "donating" to the IRS prize fund. I do not think it is right. There...enough said.
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If anyone out there is worried about the scores being too high, try duckpin!!

cosmo · « **Reply #3 on:** February 05, 2004, 09:58:21 PM »

Unless you rec'd a 1099 for alot of $, you should have no problem writing off the whole thing. I know I do it every year - show a profit (or loss) of $0.00. The 1099 I just rec'd was for ~$1200, with airfare/travel expenses, equipment, entry fees, etc - it all adds up. Just do a schedule C as someone else mentioned.

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got mule?

Author Topic: Brackets and Taxes (Read 1861 times)

StormRoto

Brackets and Taxes

StormRoto

Re: Brackets and Taxes

TWOHAND834

Re: Brackets and Taxes

cosmo

Re: Brackets and Taxes