DanielV01
Expert Alumni

Get your taxes done using TurboTax

It depends.  Gambling losses are included in itemized deductions.  Many changes have been made to itemized deductions this year.  While claiming gambling losses up to the amount of gambling winnings is still allowed, it is very possible and even likely that you may not see the gambling winnings truly offset because of reporting the losses.  The standard deduction was raised this past year from 6350 for a single individual, 9350 for a household head and 12700 for a married couple filing jointly (2017 numbers) to 12000 for a single individual, 18000 for a household head and 24000 for a married couple filing jointly in 2018.  In addition, some other deductions were reduced or eliminated.

You can enter the gambling losses right after you enter the gambling winnings.  Also, make sure you enter in all of your other Itemized deductions (home mortgage interest, real estate taxes, etc).  However, if you don't see a significant change in your tax amount due or refund, the explanation above is the reason why.  Tax law change reduced the amount of gambling loss deduction that could lower your taxable income this year.  (But the gambling winnings still must be reported).

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post