Drews v. Commissioner
United States Tax Court
Petitioner received gambling winnings in the amount of $ 9,000 from a pool in 1949. Held, that net gambling losses sustained during that year in connection with bets on horse races and similar events, determined herein to be in the amount of $ 2,400, are deductible under section 23 (h), I. R. C. 1939.
1Opinion of the Court
OPINION.
Raum, Judge:
Petitioner is not a professional gambler. However, he had “always more or less bet on the horses and dogs and played the various pools, sweepstakes, number pools, and so forth.” In May 1949 fortune smiled upon him and he won $9,000 in a pool. He testified, in substance, that after winning the pool he thought he was going to be “lucky” and was encouraged “to play the horses and dogs a little more heavily,” and that the result of such increased activity during the remainder of 1949 was a series of losses. On some days, of course, he would be a winner; but, according to his…
2Cases cited1 opinion
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
3Cited by36 opinions
- Preben Norgaard Sandra C. Norgaard v. Commissioner Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1991
- Green v. CommissionerUnited States Tax Court · 1976
- Schooler v. CommissionerUnited States Tax Court · 1977
- Abe Plisco v. United States of America, Percy M. May v. United States of America, Norman R. Baker v. United StatesCourt of Appeals for the D.C. Circuit · 1962
- Gallagher v. CommissionerUnited States Tax Court · 1968
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