Tax Law

Tax Law Project description Attached 1.An example of my professors paper 2.Tax paper guidelines 3.Tax case (main topic) 4.References- I included 8 references in pdf file. I got these from CCH-Intelliconnect (which is a database I use from my schools website). If you have access to it, you can search for the references! Main topic- professional gambler (sporting activity) vs Tournament poker player Abstract- most important things, but no facts yet (nutshell) Focus on Gloria Define the Code in the Introduction not in the abstract Explain tournament poker Explain code sec 165 (d) Define the word bet, wager In the paper, use Court felt..congress felt that.. In the end, what did the court do? Explain the issue, layout the general information- above the line..in relation to professional gambler *Paragraph(s) headings 1. ABSTRACT 2. INTRODUCTION 3. OVERVIEW OF THE RELEVANT SECTIONS 4. TSCHETSCHOT V. COMMISSIONER 5. CONCLUSION Notes Losses from wagering transactions shall be allowed only to the extent of the gains from such transactions. Losses sustained during the taxable year on wagering transactions shall be allowed as a deduction but only to the extent of the gains during the taxable year from such transactions. In the case of a husband and wife making a joint return for the taxable year, the combined losses of the spouses from wagering transactions shall be allowed to the extent of the combined gains of the spouses from wagering transactions. [ Reg. 1.165-10.] Gambling was frowned up, but now encouraged to help economy- stimulate that industry (casinos) Example, deduct in full to her expenses as professional sport or deduct against loss Professional- deduct on schedule C PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT :)