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Level 3
February 21, 2023
Solved

If my client wins $15,000 cash at the casino do they have to complete the form 8300? I have never done one for a individual taxpayer client. Thanks in advance

  • February 21, 2023
  • 1 reply
  • 3 views
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Best answer by rbynaker

Then it's probably not cash received in a trade or business.

1 reply

rbynaker
Level 13
February 21, 2023

Are they a professional gambler?

dvinegradAuthor
Level 3
February 21, 2023

They gamble a lot but have never shown them as professional gamblers so the answer is NO.

rbynaker
rbynakerAnswer
Level 13
February 21, 2023

Then it's probably not cash received in a trade or business.