topic If I have gambling winnings but equal gambling losses, why does it reduce my refund so much? Is it treated as straight income regardless of the loss? in Get your taxes done using TurboTax

If I have gambling winnings but equal gambling losses, why does it reduce my refund so much? Is it treated as straight income regardless of the loss?

unhappygmblr — Sat, 01 Jun 2019 17:45:51 GMT

This is for a Wisconsin return.

CherylW — Sat, 01 Jun 2019 17:45:52 GMT

Yes, it is treated as straight income if you don't itemize.

If you take the standard deduction, then you have lost the ability to take those losses.