- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Taxable Income for PA Purposes -
Taxable income is divided into eight classes of income. Deductions are allowed in each class of income only to the extent they are directly incurred in earning or receiving income in that class. Exception: No deductions are allowed against gambling and lottery winnings (class 8).
Gambling and lottery winnings income may be determined by taking total winnings and subtracting the total costs of wagers.
No expenses attributable to gambling and lottery income are deductible. Expenses such as: parking, postage, entry fees, meals and lodging or travel may not be deducted in arriving at gambling and lottery winnings.
Gambling and Lottery Winnings @ldawn513
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 1, 2021
7:04 PM