New AP here that is technologically challenged (figuring out how to make this post was difficult). Can anyone tell me if there any programs available for result tracking that can be installed on my phone.
Here's the IRS guidance on what records you need to keep:
"Diary of winnings and losses.
You must keep an accurate diary or similar record of your losses and winnings. Your diary should contain at least the following information.
• The date and type of your specific wager or wagering activity.
• The name and address or location of the gambling establishment.
• The names of other persons present with you at the gambling establishment.
• The amount(s) you won or lost."
They also expect you to keep "Proof of winnings and losses":
In addition to your diary ,you should also have other documentation. You can generally prove your winnings and losses through FormW-2G, Certain Gambling Winnings; Form 5754, Statement by Person(s) Receiving Gambling Winnings; wagering tickets; canceled checks; substitute checks; credit records; bank withdrawals; and statements of actual winnings or payment slips provided to you by the gambling establishment.
For specific wagering transactions, you can use the following items to support your winnings and losses.
These recordkeeping suggestions are intended as general guidelines to help you establish your winnings and losses. They aren't all-inclusive. Your tax liability depends on your particular facts and circumstances.
Keno. Copies of the keno tickets you purchased that were validated by the gambling establishment, copies of your casino credit records, and copies of your casino check-cashing records. Slot machines. A record of the machine number and all winnings by date and time the machine was played.
Table games (twenty-one (blackjack), craps, poker, baccarat, roulette, wheel of fortune, etc.). The number of the table at which you were playing. Casino credit card data indicating whether the credit was issued in the pit or at the cashier's cage.
Bingo. A record of the number of games played, cost of tickets purchased, and amounts collected on winning tickets. Supplemental records include any receipts from the casino, parlor, etc.
Racing (horse, harness, dog, etc.). A record of the races, amounts of wagers, amounts collected on winning tickets, and amounts lost on losing tickets. Supplemental records include unredeemed tickets and payment records from the racetrack.
Lotteries. A record of ticket purchases, dates, winnings, and losses. Supplemental records include unredeemed tickets, payment slips, and winnings statements"
https://www.irs.gov/pub/irs-pdf/p529.pdf
I didn't dive into supplemental materials on this, so there may be tax court cases etc. to the contrary. But if you have a diary with the date, casino name, table number you played at, win/loss, and any bank withdrawals or deposits related to your gambling, you've got substantial authority to support your deduction. So, you just need a program that tracks this. You could literally use a notepad in your phone.
Or you could make a spreadsheet with the headers
-Date
-Casino
-Game played
-Table number
-Win/Loss
I actually think this would be easier than trying to use quickbooks or some actual accounting software.
The Cash Cow.
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