AICPA urges clarity on reporting gambling gains and losses AICPA urged Treasury and the IRS to define a gambling session for calculating wagering results and to introduce a related safe harbour. · The Accountant · Heidi Besen/Shutterstock.com. Ellichipuram Umesh Fri, November 13, 2026 at 4:30 AM EST 2 min read AMZN +0.72% MMYT 0.00% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
The American Institute of CPAs (AICPA) has called on the US Department of the Treasury and the Internal Revenue Service (IRS) to issue clearer guidance on how taxpayers should calculate and substantiate gambling gains and losses.
The request came in comments on proposed regulations, REG-113229-25, which address Section 165(d) and rules governing Form W-2G.
The AICPA said the proposals do not explain how taxpayers should measure, document, or report wagering gains and losses under the session method.
The institute said further direction could make the rules easier to administer and reduce uncertainty for taxpayers.
It also urged Treasury and the IRS to define a gambling session for calculating wagering results and to introduce a related safe harbour.
The AICPA also requested clarification on the records that would provide sufficient evidence under the session method.
It said account histories, win-loss statements, player activity summaries, and comparable documents supplied by gaming operators should be accepted for this purpose.
In addition, the organisation called for the session method to cover a range of gambling activities, including table games, horse racing, electronic gaming, and other wagers.
AICPA Tax Policy and Advocacy senior manager Scott Klein said: "The AICPA is asking Treasury and the IRS to establish a consistent session-based approach that better reflects taxpayers' economic gains and losses, clarify what records can substantiate those results and apply the approach across different types of wagering.
"The growth of online and mobile wagering and the new 90% limitation wagering losses have made clear, practical rules for reporting gambling gains and losses more important than ever.
"Without clear rules, taxpayers can face higher taxable income, reporting discrepancies and uncertainty over how to substantiate their activity."
"AICPA urges clarity on reporting gambling gains and losses" was originally created and published by The Accountant, a GlobalData owned brand.
