Tax, Math Question That's Making My Head Hurt

[Suicane75]

I'm going to see my tax guy in the next few weeks but I'm trying to figure this shit out in my head and it's making my brain bleed.

#1: $4000 (Start of year paypal balance)
#2: $1000 (End of year paypal balance)
#3: $9000 (All non gambling goods & services paid for with paypal during year)

Everything else is either casino in or casino out. But there are almost 200 pages of transactions that I don't want to go line by line adding and sub tracting.

Using the 3 numbers given, is there a way to figure out my casino win/loss numbers without adding them up individually?

[JPhillips]

So you lost 3000 but you spent 9000 so you must have made 6000 in gambling profits so that your loss was 3000 rather than 9000.

[sovereignstar v2]

[Suicane75]

Originally Posted by JPhillips

So you lost 3000 but you spent 9000 so you must have made 6000 in gambling profits so that your loss was 3000 rather than 9000.

I'm beginning to understand better. Thank you sir.

[Suicane75]

Originally Posted by sovereignstar v2

The world would be a better place.

[Edward64]

Originally Posted by Suicane75

I'm going to see my tax guy in the next few weeks but I'm trying to figure this shit out in my head and it's making my brain bleed.

#1: $4000 (Start of year paypal balance)
#2: $1000 (End of year paypal balance)
#3: $9000 (All non gambling goods & services paid for with paypal during year)

Everything else is either casino in or casino out. But there are almost 200 pages of transactions that I don't want to go line by line adding and sub tracting.

Using the 3 numbers given, is there a way to figure out my casino win/loss numbers without adding them up individually?

I don't think you can find all the "casino win/loss" with those 3 parameters.

I don't get a Paypal report but assuming it's PDF with a column for categories and dollar amount, then you should be able to (1) convert PDF to Text (2) import Text into Excel and (3) sum/group up categories in Excel to give you a true win/loss $.

If that fails, just give the report to the accountant. Pretty sure they're used to getting a bunch of disorganized receipts to add up.

[bryce]

4 + x - 9 = 1
x = 1 - 4 + 9
x = 6K casino winnings

Started with 4K, made 6K, that's 10K, spent 9K of it, left with 1K