Edgorman Wrote:
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> It was very educational. I learned how the first
> 12 letters of the alphabet corresponded to the
> numbers of the entrants. I hit a J-A exacta that
> paid $590 for $2. (It was my daughter’s October
> 1 BDay). Collected and stuffed the cash in my
> socks, and ran home.
$10.10 more and you would have had an IRS signer. All those OTBs had 10 percenters. Thank god they finally got rational on the IRS signer rules. Those things made a mess of my tax returns for decades. My tax preparer could not understand how I could hit all these long odds large payoffs but still be a loser -- nowadays i could just give him the keys to my betting accounts. One year, I actually had to pay tax in NJ because my betting account at the Meadowlands showed that I was a winner in NJ -- In theory, you were supposed to keep track of your results by state. Talk about insanity. I think I was crying filing a return in a state where I didnt have any tie except betting there and had to declare myself a "winning gambler" in the state.
