Can I use a casino win/loss statement for gambling loss

Forum|Forum|7 months ago
January 16, 2026
2 replies
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TurboTax Online

Mike9241

Level 15

All gambling winnings must be reported. If that statement includes them all, you can use it. However, gambling losses are only of benefit if your itemized deductions exceed your standard deduction. They're limited to gambling gains

Mike9241

michaelbluejay

Level 2

No. The IRS is known to reject win/loss statements because the statements invariably say that they're not guaranteed to be accurate and aren't to be used for tax purposes.

What you're supposed to do is keep a session log with the date/place/game and amount won/lost for each session. At the end of the year, the total of your winning sessions is your wins (income), and the total of your losing sessions is your losses.

This is backed by case law (Sholenberger v. Commissioner), Revenue Procedure 77-29, CPA advice, and taxpayer experience come audit time.