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Deductions & credits
Yes, if your business is gambling then you can deduct the losses, but not an overall loss from wagering. You can have losses from other aspects of the business though.
https://www.journalofaccountancy.com/issues/2016/oct/taxes-for-gamblers.html
(Edited 2/13/19 @ 4:44PM)
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‎June 1, 2019
10:40 AM