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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
CD Turbotax Home & Business...on W2.g... gambling winnings does not offset same amount of losses if you don't itemize deductions... WHY ????
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
Do I need to wait for updates on this problem
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
It is showing an offset amount but it still showing as an additional income in the summary of income
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
To deduct losses you have to itemize.
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
Taxpayers who do not itemize deductions are penalized for not getting an offset of gambling winnings against gambling losses.. by being reported as additional income which is not.
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
Gambling losses are not considered as one of those items to be deducted in your itemized deductions except considered as an offset only to reported gambling winnings. I don't find any reason why if you don't itemize you are not allowed to offset gambling losses to gambling winnings... .. Doesn't make sense at all.
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
That is frequently the case in tax law.
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
There is no tax law that will disallow you to offset your gambling winnings against your gambling losses especially when it comes to either doing a standard or itemized deductions on your personal Income tax
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
Please show or quote any personal income tax law that disallow gambling losses to offset gambling winnings when you are doing a short form or standard deduction on a personal income tax.
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
It is the other way around. Tax laws do not say what you *can't* do - they tell you what you *can* do.
If you think the tax law allows gambling losses to offset winnings without itemizing then cite that law - you cannot because it does not exist.
<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/p529.pdf">https://www.irs.gov/pub/irs-pdf/p529.pdf</a> page 11
If you think the tax law allows gambling losses to offset winnings without itemizing then cite that law - you cannot because it does not exist.
<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/p529.pdf">https://www.irs.gov/pub/irs-pdf/p529.pdf</a> page 11
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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Gambling winnings is not offsetting same amount of losses if I do not itimize deductions... Why???.. onTurbotax CD Home and business
<a rel="nofollow" target="_blank" href="https://www.irs.gov/taxtopics/tc419">https://www.irs.gov/taxtopics/tc419</a>