Mail Bag 7/28/2022
Gambling With an Edge
00:00
What's Two Zeros Among Friends?
The IRS form to use is 5754 which is designed for just a situation where one person is paying for gambling win that belongs to two or more people. If a million dollar win is possible you need a pretty comprehensive agreement beforehand as to how expenses are paid and how winnings are split. Friendship is fine but when big money is involved arguments get heated and friendships get ended.
Play episode from 16:00
Transcript
