topic Per the IRS Pub 529 https://www.irs.gov/publications/p52... in Get your taxes done using TurboTax

Can i write off gambling losses if i dont have a diary but have receipts/losing state lottery tickets?

omaga75 — Tue, 04 Jun 2019 19:44:26 GMT

Can losing state lottery tickets be used as proof of loss even though i do not keep a win/loss diary?

You can only deduct gambling losses up to the amount of t...

Mark3305 — Tue, 04 Jun 2019 19:44:27 GMT

You can only deduct gambling losses up to the amount of total gambling winnings - no deduction. You should always keep receipts for any deduction taken on your return.

You can only claim up to the amount of your winning. The...

mpenni470596 — Tue, 04 Jun 2019 19:44:29 GMT

You can only claim up to the amount of your winning. The casino where you won the money can give you a record of your winning and loss, the information is sent to the IRS, so they can send you a copy of the information.

Per the IRS Pub 529 https://www.irs.gov/publications/p52...

macuser_22 — Tue, 04 Jun 2019 19:44:30 GMT

Per the IRS Pub 529

https://www.irs.gov/publications/p529/ar02.html#en_US_2015_publink100027002

You can't reduce your gambling winnings by your gambling losses and report the difference. You must report the full amount of your winnings as income and claim your losses (up to the amount of winnings) as an itemized deduction. Therefore, your records should show your winnings separately from your losses.

Diary of winnings and losses. You must keep an accurate diary or similar record of your losses and winnings.

Your diary should contain at least the following information.

The date and type of your specific wager or wagering activity.
The name and address or location of the gambling establishment.
The names of other persons present with you at the gambling establishment.
The amount(s) you won or lost.

Proof of winnings and losses. In addition to your diary, you should also have other documentation. You can generally prove your winnings and losses through Form W-2G, Certain Gambling Winnings, Form 5754, Statement by Person(s) Receiving Gambling Winnings, wagering tickets, canceled checks, substitute checks, credit records, bank withdrawals, and statements of actual winnings or payment slips provided to you by the gambling establishment. For specific wagering transactions, you can use the following items to support your winnings and losses.

These recordkeeping suggestions are intended as general guidelines to help you establish your winnings and losses. They aren't all-inclusive. Your tax liability depends on your particular facts and circumstances.