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Gambling Income

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Gambling Income
Any income that is the result of games of chance or wagers upon events with uncertain outcomes (gambling). This income is subject to taxation.

Notes:
Gambling income includes any money earned playing slot machines, bingo, or the lottery. It also includes money derived from betting on horse races, boxing, sumo wrestlers, and almost anything else.

See also: Gambling Loss
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s gang-infested areas, where owning the ``baddest'' dog generates gambling income and fear in the community.
ANIMAL ABUSERS MAY BE WARMING UP FOR MORE by Daily News (Los Angeles, CA)
This separate event produces gambling income, which is not excluded under the U.
Lottery winnings taxable under foreign treaties by Metrejean, Cheryl T. / Journal of Accountancy
He says he is constantly monitoring news about the IRS to see if the agency has changed its regulations on gambling income.
Gamblers get a new way to make book on their bets by Deady, Tim / Los Angeles Business Journal
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