I am a tax accountant and live in Wisconsin. I have found that Wisconsin does not allow any losses for gambling. Federal adjust gross income is what is used on the Wisconsin return. So, if you took losses for gambling on your Federal return, this would not flow over because that happens on the Federal return AFTER the Adjust Gross Income is calculated.
Gambling losses are indirectly deductible on your income tax return in the state of Wisconsin. While you don't claim them on your actual Wisconsin income tax return, you do claim them on your federal income tax return by itemizing deductions, for which you receive a credit on your Wisconsin state income tax return.
I did look up the fact sheet you referenced. It states, "In order to use the session method to report gambling gains, the taxpayer must be able to prove the net amount from each gambling session. The proof could be detailed original statements from a casino showing the taxpayer’s betting activities, or it could be the taxpayer’s own detailed records that keep track of the amount of money they brought into each gambling session and the amount of money they brought out of each gambling session if the records were prepared at the time the sessions took place.
If the taxpayer has no records to prove each session's net gains and losses, the taxpayer must report the
amount of gambling income from their Forms W-2G, plus any winnings not reported on a Form W-2G.
If a taxpayer qualifies as a professional gambler, they report gambling income and losses as a business
activity on federal Schedule C."
I would suggest calling the DOR for Wisconson (608) 266-2486.
They are so helpful. They will be able to tell you what exactly what you can deduct and what you can not deduct.
KatherineS63
