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Why when i put gambling winnings and same for losses does it reduces my return?
I put in my gambling winnings and same for losses and it reduces my return?
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June 4, 2019
11:53 AM
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Get your taxes done using TurboTax
The winnings are income and the losses must be taken on the Sch A as itemized deductions BUT that will only be helpful if you can itemize deductions. Until the Itemized deductions exceeds the standard deduction you will see no benefit on the return.
June 4, 2019
11:53 AM