Are our LOST reserves tax deductable?????????

Has any of you guys been told by a tax person whether our
reserves are deductable?????????

I have not been able to get an answer.

Thanks

Blessings To All, CZ

You mean like lotto tickets that did not pay?

Many times last year on the dinar sites we were told that lost reserves were deductible.

So I was just hoping.

Blessings, CZ

1alaskan wrote:You mean like lotto tickets that did not pay?

May I? If one wins relatively big at the lottery and they can produce the tickets they bought during that year that lost then they are tax deductable.

The same as if you go to Vegas and win big and can proove loosings (by running a ticket with a said casino) (the way that is done is by placing your money on account in advance and drawing from that money to do your gambling) you then balance out the difference.

With that said CZ I would say it is quite possible to deduct the losses from buying reserves as long as they were lost in the same tax year. I am no tax consultant or a attorney but the 2 above are true and I have used both on my taxes before. As to the dinar. I say it is definately possible.

It will be interesting to hear the answer once an expert wieghs in...Please share...Thanks

I knew about the casino angle don't know about lotto or reserves, don't play either one.

Dunno ... I have stayed far away from Vegas, Lottery tickets and reserves ...