Every gambling-tax client means a stack of sportsbook PDFs, W-2Gs, 1099s, and bank statements someone on your team has to manually reconcile before you can even start the return. LedgerWager does that reconciliation — you review one clean, audit-ready package and sign off.
Winnings, losses, and withholding in the workpaper link straight back to the original statement or form. When a return gets a second look, you're not reconstructing where a number came from.
Deductible losses, taxable income, and phantom income are calculated the same way every time, across every client — not re-derived by hand per engagement.
Documents are read, classified, and cross-checked (duplicate statements, missing months, W-2G-vs-win/loss gaps) before a preparer ever opens the file — your team reviews and signs off, not assembles from scratch.
Whether it's one high-volume bettor or a book of gambling clients, the intake and reconciliation work is the same regardless of how many sportsbooks or casinos are involved.
Whether a client's gambling activity is treated as casual or professional, the quality of their records is the foundation everything else gets built on. LedgerWager exists to make that record complete, consistent, and traceable — so your firm's judgment call is about the client's facts, not about missing documentation.
Set up an engagement in minutes, or talk to us about the CPA Partner Plan for multiple clients.