Vtlink11
New Member

Deductions & credits

I am going to use itemized deductions. My question is what would I report as “losses” for this. Do I report the difference between my 43k and whatever the win/loss statement says and itemize that? 

 

for example I win 43k 

i “lose 8k of that plus 5k of my own money and my win loss statement says I “took home” 35k

 

what gets reported as a loss from this