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  • Writer's pictureHolly Roundtree CPA

2019 – 07/29

The U.S. Tax Court has found that a taxpayer’s poker playing wasn’t an activity engaged in for profit. Therefore, he must deduct his losses on Schedule A, rather than on Schedule C, of Form 1040. The taxpayer worked as a construction manager while engaging in poker-related activities at night and on weekends. In December 2015, he took time off from work to participate in poker tournaments across the country. The taxpayer testified that playing poker consumed his nights and weekends for the year in issue. But the court found that simply spending all of one’s free time on an activity doesn’t transform the activity into a trade or business. (TC Summary Opinion 2019-16)

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