Enjoy the beer, but net of tax. The value of the beer is gambling winnings, which is taxable income. Fortunately you're not a professional gambler, so you won't have to pay self-employment tax on the beer, too. Query: Would your friend get a deduction for the cost of the beer as "tax research expense" under IRC 212?-LoTaxTax simplification, Army intelligence, Jumbo shrimp. Oxymorons all!
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