Jack is a resident and citizen of Italy. He is independently wealthy and loves to gamble. He splits his time between the Bahamas, Dubai, and the United States gambling at various casinos and race tracks. While Jack was gambling in Dubai in August 2017 he made a wager with Jill, a U.S. citizen, he met at a casino. He bet Jill $50,000 that the Eagles would beat the LA Rams in their regular season meeting on December 10, 2017. The Eagles won and Jill paid. She wired the money from her Wells Fargo account in Las Vegas to Jacks account at Credit Suisse in Zurich the day after the Eagles won, 43-35.

14. What are the U.S. tax implications to Jack?

15. What are the tax implications to Jill?

If Jack made the bet at the Golden Nugget Casino in Las Vegas and the Golden Nugget wired the $50,000 to Jacks Credit Suisse account: 16. What are the U.S. tax implications to Jack?

Jack is a resident and citizen of Italy. He is independently wealthy and loves to gamble He splits his time between the Bahamas, Dubai, and the United States gambling at various casinos and race tracks, While Jack was gambling in Dubai in August 2017 he made a wager with Jill, a U.S. citizen, he met at a casino. He bet Jill $50,000 that the Eagles would beat the LA Rams in their regular season meeting o The Eagles won and Jill paid. She wired the money from her Wells Fargo account in Las Vegas to Jack's account at Credit Suisse in Zurich the day after the Eagles won, 43-35. n December 10, 2017 Unite as app What are the U.S. tax implications to Jack? What are the tax implications to Jill? 14. 15. Unit 8 If Jack made the bet at the Golden Nugget Casino in Las Vegas and the Golden Nugget wired the $50,000 to Jack's Credit Suisse account: at are 16. What are the U.S. tax implications to Jack