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Gambling winnings in slots
If I bet a total of $5000 in 2022 on slots and lost $4900, do I report my gambling winnings as $100 (net profit) or $5000 (total wins, not including losses)? That will make a sizeable difference! I am taking the standard deduction as well. And what if I withdrew a couple thousand dollars total throughout the year (but lost it)? And what if the winnings come through Paypal?
‎October 28, 2022
1:21 AM