Many gamblers mistakenly believe that they do not need to keep a gambling diary because the casinos can provide them with the necessary information to satisfy the IRS. Unfortunately, these same gamblers find out too late what the IRS already knows – the casinos themselves do not consider their information sufficiently reliable for tax purposes.
Listed below are samples of “disclaimer” language used in actual win/loss statements from a variety of casinos.
Choctaw Nation, Office of Public Gaming, Durant, OK
At this time Choctaw Casinos does not have the ability to record or track cash-in transactions from our customers, so will not be able to provide you with those types of records [win/loss statements].
DiamondJacks Casinos, Bossier City, LA
These records have been reviewed and researched to the best of our capabilities. We are pleased to provide you this information as a customer service. However, please understand that DiamondJacks cannot accept responsibility for the degree of accuracy of your total gaming activity due to factors beyond our control and outside the limitations of our systems. Please be aware that the individual is responsible for maintaining accurate records of their play.
Eldorado Resort Casino, Shreveport, LA
[T]his letter will constitute the requested report covering your gaming activity at the Eldorado that year. In this regard, please note that these records are based on “rating information” not accounting records.
Golden Nugget, Las Vegas, NV
As you may be aware, the records we used to arrive at these amounts provide estimates only and do not constitute an accurate accounting record.
Harrah’s, Louisiana Downs, LA
The Total Rewards player rating system is not intended for tax reporting, therefore, we make no representation as to either the accuracy of this information or its effectiveness as a proof of losses. This amount may not include all hand-paid jackpots reportable to the IRS on form W2G. The IRS recommends keeping a diary of your gaming activity [emphasis added] with such pertinent information as dates, slot machine or table numbers, jackpots, and total wins and losses. For specific information on tax return preparation and IRS requirements, please consult a tax advisor or the IRS at www.irs.gov.
MGM Mirage Players Card, Las Vegas, NV
This [Players Club win/loss] statement does not reflect an accurate accounting record – it merely provides an estimate that you can use to compare to your own records.
Due to the large amount of information from our members, most reports would simply be too long to include this type of detail [information about daily sessions].
The Venetian, Las Vegas, NV
This information does not constitute a definitive accounting of your gaming activity; rather, our records provide estimates only.
With such language, it should not come as a surprise that the IRS is reluctant to rely upon such information.
For more information about casino win/loss statements, please visit our affiliate website, www.CasinoWinLossStatements.com.