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Gambling Deduction triggering itemized deductions
I have high gambling income this year and am anticipating estimated payments. When I create a "what it" 2023 file and enter 300,000 winnings and 50,000 losses, TurboTax still applies a standard deduction, while this deduction would clearly exceed the standard amount. Why doesn't TurboTax switch to itemized deductions?
‎July 2, 2024
7:20 AM