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Gambling losses are entered at the end of the Gambling winnings section:
Federal Taxes > Income & Expenses > Less Common Income > Gambling Winnings
Continue to the end of the winnings section, then input your losses.
Gambling losses are only deductible as an offset to gambling winnings, i.e. net gambling losses will never reduce your total taxable income.
Gambling losses are entered at the end of the Gambling winnings section:
Federal Taxes > Income & Expenses > Less Common Income > Gambling Winnings
Continue to the end of the winnings section, then input your losses.
Gambling losses are only deductible as an offset to gambling winnings, i.e. net gambling losses will never reduce your total taxable income.
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