A person playing card games at National Sports Club, some time he win and some time he loose, he is showing net income in its Income Tax Return. Whether he can claim loss in playing game as set off against winnings. He is having proof only he is member in club, where this card game is playing. Kindly advise
Thanks
Can Card Game Losses at Sports Clubs Be Deducted from Winnings on Your Tax Return? A person inquired about whether losses from playing card games at a sports club can be offset against winnings for income tax purposes. The individual is reporting net income from these games on their tax return and seeks advice on claiming losses, with proof of club membership as the only documentation. A respondent asked if the issue was clarified, indicating no further guidance was provided in the discussion. (AI Summary)