Allen visits Reno, Nevada, once a year to gamble. This year his gambling Critical Thinking loss was $25,000. He commented to you, "At least I didn't have to pay for my airfare and hotel room. The casino paid that because I am such a good customer. That was worth at least $3,000." What are the relevant tax issues for Allen?
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Home » Business » Allen visits Reno, Nevada, once a year to gamble. This year his gambling Critical Thinking loss was $25,000. He commented to you, "At least I didn't have to pay for my airfare and hotel room. The casino paid that because I am such a good customer.