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NTU Management Review Vol. 31 No. 3 Dec. 2021, 174 DOI:10.6226/NTUMR.202112_31(3).0003The Study of Gambling Preference, Trading Pattern and Excess Comovement in LotteryLike Stock Returns ZiMei Wang,
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Gambling refers to the act of wagering money or valuables on an uncertain event, typically with the intention of winning additional money or valuables. Comovement is a financial term that describes the synchronization of asset price movements or returns, often seen in markets where assets respond similarly to economic or market stimuli.
Individuals and businesses that engage in gambling activities and meet certain reporting thresholds, such as income from gambling winnings or losses, may be required to file gambling and comovement documentation with tax authorities.
To fill out gambling and comovement forms, individuals must provide details of their gambling activities, including the amounts won or lost, the venues where gambling occurred, and any associated expenses. It is important to check with the relevant tax authority for specific instructions.
The purpose of gambling and comovement filings is to ensure accurate reporting of income and losses from gambling activities, allowing for proper taxation and regulation of such activities.
Key information that must be reported includes the total amount of gambling winnings, losses, the types of gambling activities engaged in, and tax identification details of the individual or business.
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