Yes, the IRS will consider the total amount won without taking into account losses or the actual profit. In your example, the IRS will use the 15K to decide if you exceeded the threshold.
Also, you can only deduct your losses if you itemize your deductions, If you take the standard deduction you can not deduct your losses.
The 2021 Standard Deductions are:
- $12,550 for single filers.
- $12,550 for married couples filing separately.
- $18,800 for heads of households.
- $25,100 for married couples filing jointly.
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