Yes, because the amount of losses you can deduct may not be more than the amount of gambling income reported on your return. See IRS Tax Topic 419, Gambling Losses for more info. <a rel="nofollow" target="_blank" href="
https://www.irs.gov/taxtopics/tc419.html">https://www.irs.gov/taxtopics/tc419.html</a>
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