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Section 61.-- Gross Income Defined 26 CFR 1.61-1: Gross ...

Section Gross Income Defined 26 CFR : Gross Income . (Also 165; ) Safe Harbor Method for determining a Wagering Gain or Loss from Slot Machine Play Notice 2015-21 This notice provides a proposed revenue procedure that, if finalized, will provide an optional safe harbor method for individual taxpayers to determine a wagering gain or loss from certain slot machine play. Section 61 of the Internal Revenue Code provides that Gross Income means all Income from whatever source derived. See also of the Income Tax Regulations. Gains from wagering transactions are included in Gross Income .

Safe Harbor Method for Determining a Wagering Gain or Loss from Slot Machine Play . Notice 2015-21 . This notice provides a proposed revenue procedure that, if finalized, will provide an optional safe harbor method for individual taxpayers to determine a wagering gain or loss from certain slot machine play.

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