Members of the Maryland Association of Certified Public...

Tax questions

March 26, 1998

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.

Q: I have so far this year won a rather large lottery prize. In filling out my 1998 income tax return in April of 1999, what type of proof am I going to need to offset some of these lottery winnings against my lottery losses?

A: You will need to have tangible, credible evidence of lottery and other gambling losses. Such evidence would be losing lottery tickets or other legal gaming losses, such as losing horse racing betting stubs. These, of course, must be tickets from your losses and only for losses within the calendar year in question.

Kenneth W. Kirby, CPA, Beatty, Satchell & Co., LLC The above advice is for general purposes only and is not intended as legal, accounting or tax advice. Specific situations may vary.

To ask a tax question, call Sundial, The Sun's telephone information service, at (410) 783-1800. Call 268-7736 in Anne Arundel County, 836-5028 in Harford County, 848-0338 in Carroll County. Using a Touch-Tone phone, punch in the four-digit code 6225 after the greeting. You can also submit questions by e-mail through The Sun's Web site:

Selected questions will be answered in the Business section. No questions will be answered personally.

Pub Date: 3/26/98

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