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Business & farm
If you have gambling winnings then you can deduct gambling losses up to the amount of your winnings. You are required to maintain documentation to support your losses. Because of the nature of gambling, the available documentation varies widely. A buy in ticket, if it was for the purchase of chips as opposed to a fee for a seat at the table, would be one such type of documentation and could be used to support a gambling loss.
‎June 5, 2019
10:30 PM