v-sweeps for Texas question I live in Texas where we have v-sweeps machine or called donation machines. These gaming machines do give a cash payout which could be loaded on a "credit" card/ player card and be pulled out in sums up to $500. My question is can this redeemed money be put on my 1040 as gambling income and be offset by gambling loss AND the extra that is put back in the machine as a donation be put on my 1040 Itemized deductions as a donation to a charity/veterans.
I have reports from the v-sweeps organization for how much I donated or put cash in the machine and how much I pulled out. My donations really offset way more than I won or redeemed from the machines.
Any help would be greatly appreciated. |