I've been trying to properly enter my 2005 auto racing winnings and
expenses through TurboTax and I'm not having any luck getting the
numbers to come out right. My understanding is that I should be able
to offset 100% of the income I had last year with my expenses (which
far exceed my winnings of course), right? Any advice on how to
properly do this? Are my racing expenses subject to the 2% rule as
long as they don't exceed my winnings?
Thanks, this is the first year in several years I've had to worry
about this and I want to get it right.
- Alan Dahl
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Alan Dahl email:
alandahl@mac.com
Federal Way, WA, USA Yahoo IM: AlanBDahl
http://homepage.mac.com/alandahl ICQ: 52688023
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