Writing Off Gambling Losses on Your 2023 Taxes

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Gamblers can deduct their gross losses but only if they are itemizing deductions and these losses can only be used to offset gross winnings You do not get

In calculating gains, the taxpayer may deduct gambling and lottery losses, other than losses incurred in the State Lottery on or after July 21, 1983, but Only out-of-pocket losses are eligible for deduction; profits lost or foregone as a result of theft or embezzlement are not deductible Some

strategie zum gewinnen beim poker Gambling losses You may deduct gambling losses only if you itemize your deductions on Schedule A and kept a record of your winnings and losses  165, for a taxpayer who does not engage in gambling as a trade or business, losses from wagering transactions are allowable as an itemized