icft

AM radio? I am back in middle school😄

Are we back to anus again?

That's what makes it a Sid review...

I feel like I'm back in middle school again...

Promises, promises...

Just don't kiss him...

If the Prima repo was the recent one out of Galveston April 5th we were also on that cruise. In the over 40 cruises we've taken it was the our favorite cruise. Jonathan (Dr. Bong) and Guillermoe at the Metropolitan bar were incredible. They made many of my drinks on the tops of their heads.

"Jackie Treehorn treats objects like women, man."

Someone pointed out to me a point of possible confusion. Some may have noticed that in the headlines about the tax court case cited above it is said "that they could not net their wins and losses across the year" while the Office of Chief Counsel legal memorandum AM 2008-011 does allow for deducting losses from sessions other than the winning sessions. The difference is that in the tax court case the taxpayers were arguing that the losses from other sessions in the year could be netted with the winning session to determine INCOME. The tax court rejected that saying"...their gambling losses are allowable only as itemized deductions. But because petitioners have elected the standard deduction, they are not entitled to itemize their deductions." The legal memorandum notes "A casual gambler who elects to itemize deductions may deduct wagering losses, up to wagering gains, on Form 1040, Schedule A." So the headline is a bit misleading. The tax court and the legal memo are in agreement that IF you itemize you can deduct your losses up to the amount of your winnings for the year. For reference, the tax court decision: https://bradfordtaxinstitute.com/Endnotes/TC_Memo_2009-306.pdf

If you are referring to post #14, that is not a ruling but rather a report in the Journal of Accountancy concerning a tax court decision. If you are referring to the Office of Chief Counsel legal memorandum AM 2008-011 then you will find it here: https://www.irs.gov/pub/irs-utl/am2008011.pdf and it does not define "session." Also note that it is advice, not a ruling. At the top it states "This advice may not be used or cited as precedent." It is the kind of thing generated by legal when asked by the field agents for guidance on the handling of an issue. It is not a law or regulation and therefore bears no weight in support of an IRS position, though its existence does allow an estoppel argument against the IRS (it is a sword that can be used against the IRS but not by the IRS).

Unless you are talking bankruptcy. There is a reason for separate corporate subsidiaries. 😇

While I agree that for most folks, including me, the effort of documenting everything is not worth the gain, I think you are overstating the difficulty. For example, there is no need to document the exact slot machines on which you lost on each spin. To quote part of the article linked below: "The IRS in 2008, and later clarified in 2015, created rules for deducting gambling losses called gambling sessions. The idea was a gambling win wasn’t really a true win until the session was completed. The Tax Court ruled it is impractical to record each and every wager (pull of the lever, deal of the cards or throw of the dice) and therefore wins and losses can be tabulated for each gambling session versus each hand of cards played, et cetera." See: https://www.wealthyaccountant.com/2018/12/18/deducting-gambling-losses-with-the-new-tax-bill/ But even that stuff isn't worth it for me. I gamble for fun, not to keep records.

Neither is the hospital bill you use to back up your medical expense deduction, but it is a starting point. For the full drill, most of which one can get from the win/loss statement see: https://www.idealtax.com/win-loss-statement-taxes/

First, unless you are a professional gambler you can only deduct gambling losses if you itemize your deductions and then only to the extent of your winnings: https://www.irs.gov/taxtopics/tc419 As for keeping track of your winnings and losses, on Carnival you can request a win/loss report at: https://oceanplayersclub.com/contact/win-loss-report/

We took a cruise on the Prima out of Galveston down to the ABC islands last month. It was far and away the best cruise we have ever taken. The ship is beautiful and the design is apparently excellent in that we never felt crowded - good people flow. The food was consistently the best we have had on any cruise, with the exception of Cagneys (NCL folks love and brag about Cagneys but we found it mediocre; perhaps a bad night.) The crew was outstanding. Once we were looking for a place and asked a crew member. She said "follow me" and took us down a deck to the place we were looking for, and all the crew we came across seemed to have the same helpful attitude. Now, that is not the norm for all NCL ships. For example on the Breakaway the people flow is not as good and occasionally you hit a people jam. The food on the Breakaway was very good, but often you had to take a pager to wait for a table to open. And the crew was very helpful, but occasionally you would come across one who was a bit clueless. At the end of January 2025 we have another two week Prima cruise booked and we'll be looking for Viva when it hits Galveston.

I might look into this. If nudity is not a requirement it would add a new dimension to people watching...

Upon reflection I think you are right. Carnival ignored both occasions and I confused the two. But there was zero recognition of the milestone cruise so Greg is still special. 😁

Glad you mentioned "most likely." I had to chuckle because on our last cruise my phone, while on airplane mode the entire time, changed a couple of times. On many, many cruises I've never had that happen but on this cruise the time flip-flopped. I couldn't use it as my alarm because I never knew if it would change in the middle of the night. I suspect the reason is that in addition to checking the phone's date and time options to use my carrier I also had the option to set time based on the phone's location checked. The spam ads Gmail sends all changed to Spanish once we were around the ABC islands so somehow my location was known by the internet.

Greg is definitely special. On our 25th cruise we didn't even get special cards. Got nothing until half way through the cruse I went by guest services and asked about the leather trinkets you are supposed to get and the steak dinners. They weren't sure what I was talking about..

Am I the only guy who ever used an Osborne computer? Everyone seems to have had a TRS-80 but no one lugged an Osborne to work it seems. I lugged that thing all over Houston doing audits; my left arm is larger than my right to this day 😜 (keeping right hand free to open doors).

WilsCM made an innocent, easily understood, rational comment. Why twist it into something nefarious?

We've been to Aruba and Bonaire several several times but Curacao only once. Curacao is our favorite; lots to see and lots of interesting history. Just hearing "Aruba" brings a smile to my face these days. Not because it is so fun, but because many of the tours still take you to see the "Natural Bridge." The thing is, the Natural Bridge collapsed in 2005.

The first answer you got from mz-s is, in my opinion, the best answer. Our experience, be it long ago, was that Carnival didn't pay attention to one cruise unless you racked up an amazing pile of points. We got no offers after our first three cruises in one year; with only medium betting on our part. After that first year of cruising we were steadily inundated with offers. Even today, racking up 15,000 points on a cruise does not result in immediately better offers, but if we have a good year then the following year we get much better offers even if we don't cruise on Carnival or gamble much that year. We have mostly switched to NCL but still get great offers from Carnival. I expect those will get smaller going forward (since we are mainly NCL now) but for the time being we are still riding the wave of last year. I find the talk of Carnival not being as transparent as other cruise lines interesting. Our experience is only Carnival and NCL. On Carnival you don't call them, they send you offers. On NCL they have "tier levels" based on points earned during the year (and your level at the end of the year is your beginning level for the next year). They have schedules of benefits for each level, but those are only for things like priority boarding, free water, onboard credit, free or discounted internet and the like. As far as free or discounted cruises you have to call the casino operation, tell them what cruise you are interested in and ask what they can offer you. We were pleasantly surprised that after our first cruise when I called them about a cruise they offered a comped balcony, other than taxes/port fees, gratuities and the usual you have to pay on "free cruises." Strangely, they also have an administrative fee the casino operation charges that is $20 per day per person in the cabin. Having to call NCL casino operations to find out what kind of deal they can offer on a cruise seems to me to be less transparent than Carnival straight out telling you their offers. All that is just our experience. Since covid folks have said they have gotten offers even though they don't gamble. Like mz-s said, any answer you get is just speculation.