- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Gambling loss deduction isn’t working
If I enter all of my regular income, I have a refund of about $600 for federal and $650 for state. But if I include my W2-Gs totaling $7,613 in wins, and deduct all of it on the next page, it says I have to pay in $300 on federal and a refund of $120 on state. So my $1,250 refund turns into owing $180.
That extra $7,613 in gambling wins shouldn’t affect my refund if I deduct 100% of it right?
Topics:
February 5, 2024
7:54 AM