In $2023,$ Stan and Francine will file MFJ$.$ They have $$153,321$ of W$-2$ wages and $$4,231$ of interest on their mortgage. Stan and Francine take the standard deduction. Additionally, Stan decided to try out sports betting in $2023.$ The sports betting company sent Stan a summary of $2023$ winnings and bets. Stan had total winnings of $$15,342$ and total bets costing $$16,132$ over the course of $173$ bets. Therefore, Stan believes he has a net gambling loss of $$790$ for the year and should not have to claim any gambling income. Stan and Francine have contracted you to investigate this issue. There are no income or deduction issues beyond what is stated above. Following the required format, research and write a tax memo to Stan and Francine determining the tax consequences of Stan$$s sports betting. A full$-$credit answer should cite at least $1$ specific IRC section as well as one court case in support of the answer.