Uncle Sam is certainly unfair to horseplayers when it comes to the tax laws. He is particularly hard on those who engage in the activity as a hobby and/or recreation. Even those who are able to file as Professional Gamblers (that is, wagering is their Business), find that that tax laws treat their business unequally when compared to other types of businesses. One notable example of this unfairness is the inability to carry over losses from one year to off-set profits from another year, whereas many other types of businesses can.
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