- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
You should record gambling wins and losses each time you gamble. The gross must be reported. The losses are added together for the itemized deductions which are giving you trouble. You are not allowed to use net losses. The losses may not exceed winnings. The IRS would lose money if net winnings were allowed. Those who can't itemize, lose the deduction.
See Topic no. 419, Gambling income and losses
**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"
‎January 30, 2024
8:56 AM