Their section on win/loss statements agrees with what I found online. The IRS will generally not accept the statement as proof of loss, but it will accept is as corroboration of your personal log, like ATM receipts, redeemed markers, etc. Jean and Marissa say that the IRS is evolving in terms of win/loss statements. Dispute between Seneca Nation and state stops casino cash ... Dispute between Seneca Nation and state stops casino cash flow to local counties ... Every time the Seneca Niagara Casino makes money on a slot machine, part of the profit goes to New York State ... Seneca, niagara, casino Hotel : Casino Player Magazine - Games
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Best Answer: It is worthwhile to have documentation because you must show all your winnings on your tax form even if you are claiming losses. You cannot subtract the losses from the winnings and just report that number. You have to show both total wins and total losses to the IRS in separate fields. Should ... How to read casino win/loss statement? | Yahoo Answers