Baxter v. United States
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Baxter v. United States, 633 F. Supp. 912 (D. Nev. 1986),[1] was a federal tax refund case, decided in 1986, regarding the U.S. federal income tax treatment of the gambling income of a professional gambler. Because of this case, gambling winnings in the United States can in certain cases be treated as business income for federal income tax purposes. This means that in some cases expenses and losses can be deducted from gambling winnings in arriving at the net earnings from self-employment, and that winnings can be placed into retirement funds.
Quick Facts Baxter v. United States, Court ...
Baxter v. United States | |
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Court | United States District Court for the District of Nevada |
Full case name | William E. Baxter Jr. v. United States |
Decided | March 11, 1986 |
Docket nos. | Civ. No. R-84-463 BRT |
Citation(s) | 633 F. Supp. 912; 86-1 U.S. Tax Cas. (CCH) ¶ 9284 |
Court membership | |
Judge(s) sitting | Bruce Rutherford Thompson |
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