https://ttlc.intuit.com/community/taxes/discussion/when-i-put-in-gambling-losses-it-doesn-t-reflect-in-the-amount-i-get-in-return/01/171767#M69730 Sat, 01 Jun 2019 15:20:51 GMT glenn2 2019-06-01T15:20:51Z https://ttlc.intuit.com/community/taxes/discussion/when-i-put-in-gambling-losses-it-doesn-t-reflect-in-the-amount-i-get-in-return/01/171767#M69730 Sat, 01 Jun 2019 15:20:51 GMT https://ttlc.intuit.com/community/taxes/discussion/when-i-put-in-gambling-losses-it-doesn-t-reflect-in-the-amount-i-get-in-return/01/171767#M69730 glenn2 2019-06-01T15:20:51Z https://ttlc.intuit.com/community/taxes/discussion/unfortunately-if-you-do-not-itemize-your-deductions-the/01/171786#M69736 <P>Unfortunately, if you do not Itemize your deductions, the gambling losses will not have an effect on your taxes.&nbsp;&nbsp;</P> <P>We estimate that close to 90% of taxpayers will be taking the <STRONG>higher standard deduction</STRONG> this year (compared to around 70% last year) as a direct result of&nbsp;<A href="https://ttlc.intuit.com/questions/4482394" target="_blank" rel="noopener">tax reform legislation</A>.</P> <P>Check your return to see if you itemize or take the standard deduction.&nbsp; Keep in mind the Standard deduction for single taxpayers is $12,000.&nbsp; The standard deduction for married taxpayers is $24,000.&nbsp;&nbsp;</P> Fri, 05 May 2023 22:33:39 GMT https://ttlc.intuit.com/community/taxes/discussion/unfortunately-if-you-do-not-itemize-your-deductions-the/01/171786#M69736 AlanT 2023-05-05T22:33:39Z